expectations, consistent with wealth effects and higher expected housing costs offsetting each other. However, renters reduce their …

We quantify the housing-consumption channel in mortgage demand according to which households borrow more following … a structural approach to mortgage demand and supply, exploiting exogenous variation in house-price growth and a unique … dataset with matched transaction-price and mortgage information. We estimate an elasticity of mortgage borrowing to house …

How much and over what horizon do households adjust their consumption in response to stock market wealth shocks? We …

deviations from the common trend among consumption, aggregate wealth, and labour income, cay, and focus on the implications for … substitutes consumption will be temporarily reduced. -- consumption ; wealth ; stock returns ; housing returns ; OECD countries …

consumption, aggregate wealth, and labour income should predict both stock returns and housing returns. We use quarterly data for … wealth held in the form of housing (i.e., when stock and housing assets are substitutes), then they will temporarily reduce … their consumption. -- consumption ; wealth ; stock returns ; housing returns ; emerging markets …

, mortgage credit constraints and a price-to-price feedback loop affects house price volatility. Considering 247 Metropolitan …

Homeownership rates and holdings of housing wealth differ immensely across countries. We specify and estimate a life … wealth. We find that all three groups of factors matter, although preferences less so. Differences in homeownership rates are … explanatory factors for long-run, structural differences in the extensive and intensive margins of housing: the homeownership rate …

wealth. To capture the importance of land as an input factor for housing production and for the evolution of wealth in a … housing wealth after Word War II remarkably accurately and accounts for the close connection of house prices to land prices in … the data. It suggests a considerable further increase in housing wealth, relative to income, that is associated with a …

relevant waves of the Health and Retirement Study (1996-2010), we exploit the exogenous variation in the form of wealth shocks … resulting from the value of housing assets, to examine the effect of wealth on use of home health, unpaid help and nursing home … not affected by the housing wealth changes. The findings suggest that a wealth shock exerts a positive and significant …