rate by age) are applied to the two schemes. The impacts of different shocks (productivity, migration and longevity) on the …

borrow for current consumption on the basis of their housing wealth, and the easing of borrowing constraints has often been …This paper reviews the role of house prices in influencing private consumption and residential investment in OECD … for the major OECD countries suggest that house prices have a significant positive impact on private consumption through …

relationship between consumption and income, and more specifically on the wealth effect. A range of different procedures is used to … have eased the liquidity constraints facing households, thus raising the targeted level of consumption. The objective of … assess the impact of financial deregulation on global wealth and on its different components (financial, housing and others …

mortgage markets. The paper focuses specifically on: the transmission channel from housing wealth to consumption and on the …. Estimates of the marginal propensity to consume out of housing wealth are presented for ten OECD countries, where it is found … that the strongest impact on consumption is in countries that have large, efficient and responsive mortgage markets …

demographic issues. The analysis first focuses on the impact of these trends on the future level and structure of consumption …