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Girouard, Nathalie; Blöndal, Sveinbjörn - Economics Department, Organisation de Coopération et … - 2001

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

Persistent link: https://www.econbiz.de/10005045630

Financial Market Liberalisation, Wealth and Consumption

Boone, Laurence; Girouard, Nathalie; Wanner, Isabelle - Economics Department, Organisation de Coopération et … - 2001

have eased the liquidity constraints facing households, thus raising the targeted level of consumption. The objective of … relationship between consumption and income, and more specifically on the wealth effect. A range of different procedures is used to …

Persistent link: https://www.econbiz.de/10005045935

The Danish Housing Market: Less Subsidy and more Flexibility

Erlandsen, Espen; Lundsgaard, Jens; Hüfner, Felix - Economics Department, Organisation de Coopération et … - 2006

While Denmark has fairly flexible labour and product markets in most respects, the housing market stands out with large direct and indirect subsidies for all types of housing and a highly regulated rental market hindering mobility, probably resulting in a mismatch between housing needs and use....

Persistent link: https://www.econbiz.de/10005046153

Housing Markets, Wealth and the Business Cycle

Catte, Pietro; Girouard, Nathalie; Price, Robert W.R.; … - Economics Department, Organisation de Coopération et … - 2004

mortgage markets. The paper focuses specifically on: the transmission channel from housing wealth to consumption and on the … that the strongest impact on consumption is in countries that have large, efficient and responsive mortgage markets …

Persistent link: https://www.econbiz.de/10005046210

Selected Aspects of Household Savings in Germany: Evidence from Micro-Data

Kolerus, Christina; Koske, Isabell; Hüfner, Felix - Economics Department, Organisation de Coopération et … - 2012

This paper uses household level data from the German Socio-Economic Panel (GSOEP) over the period 1991 to 2008 to analyse the driving factors of movements in the German household savings rate. Specifically, it analyses the impact of the precautionary savings motive and the impact of the 2002...

Persistent link: https://www.econbiz.de/10011276952

Deleveraging: Challenges, Progress and Policies

Bouis, Romain; Christensen, Ane Kathrine; Cournède, Boris - Economics Department, Organisation de Coopération et … - 2013

In the run-up to the financial crisis, indebtedness of households and non-financial businesses rose to historically high levels in many OECD countries; gross debt of financial companies rose dramatically relative to GDP. Much of the debt accumulation appears to have been based on excessive...

Persistent link: https://www.econbiz.de/10011276972

Catching-up and Inflation in Europe: Balassa-Samuelson, Engel's Law and Other Culprits

Égert, Balázs - Economics Department, Organisation de Coopération et … - 2010

This study analyses the impact of economic catching-up on annual inflation rates in the European Union with a special focus on the new member countries of Central and Eastern Europe. Using an array of estimation methods, we show that the Balassa-Samuelson effect is not an important driver of...

Persistent link: https://www.econbiz.de/10008461038

Tax Treatment of Private Pension Savings in OECD Countries and the Net Tax Cost Per Unit of Contribution to Tax-Favoured Schemes

Yoo, Kwang-Yeol; Serres, Alain de - Economics Department, Organisation de Coopération et … - 2004

This paper provides, for all OECD countries, an estimate of the net tax cost per currency unit of contribution to a tax-favoured retirement savings plan, using a present-value methodology. The latter takes into account the future flows of revenues foregone on accrued income and of revenues...

Persistent link: https://www.econbiz.de/10005046077

The Decline in Private Saving Rates in the 1990s in OECD Countries: How Much Can be Explained by Non-Wealth Determinants?

Serres, Alain de; Pelgrin, Florian - Economics Department, Organisation de Coopération et … - 2002

The substantial decline in private-sector saving rates observed in several OECD countries in the late 1990s coincided in several cases with a sharp increase in household financial net worth. This was seen by many observers as evidence that the strong rise in equity and residential property...

Persistent link: https://www.econbiz.de/10005046105

The Swedish Housing Market: Better Allocation via Less Regulation

Hüfner, Felix; Lundsgaard, Jens - Economics Department, Organisation de Coopération et … - 2007

While several sectors in the economy have been deregulated, the Swedish housing market remains distorted, hindering an optimal matching of supply and demand. In the rental market the rent setting framework with its focus on cost-based rents in the public sector prevents a price response, leading...

Persistent link: https://www.econbiz.de/10005049013

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