Clancy, Daragh; Cussen, Mary; Lydon, Reamonn - Central Bank of Ireland - 2014
housing wealth exerts a positive influence on consumption. Whilst informative, the aggregate results not allow us to identify … therefore used to assess whether behaviour at the household level can further explain consumption trends at the aggregate level …. We observe a strong correlation between house price levels and consumption for young, middle- and older-aged cohorts. The …