Grant, Charles; Peltonen, Tuomas - de Nederlandsche Bank - 2005
The study quantifies stock market and housing market wealth effects on households' non-durable consumption using … insignificant housing wealth effects. However, we found homeowners' MPC out of housing wealth gains to be The study quantifies stock … market and housing market wealth effects on households' non-durable consumption using Italian household panel data (SHIW) of …