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This paper examines the role increasing personal wealth and home equity withdrawal (HEW) have had in the decline in the … while making housing wealth more liquid as HEW becomes easier over time. Regression analysis indicates the expected negative …
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Do portfolio shifts by the world's largest asset owners respond procyclically to past returns, or countercyclically to valuations? And if countercyclical investment (with both market-stabilizing and return-generating properties) is a public and private good, how might asset owners be empowered...
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