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Is Housing Wealth an 'ATM'? The Relationship Between Household Wealth, Home Equity Withdrawal, and Saving Rates.
Klyuev, Vladimir - 2006
Intro -- Contents -- I. INTRODUCTION -- II. HAVE SAVING RATES REALLY FALLEN? -- III. LIKELY IMPACT OF FINANCIAL INNOVATION AND LIBERALIZATION ON HOME EQUITY WITHDRAWAL ( HEW) AND SAVING -- IV. TRENDS IN HEWAND HOUSEHOLD SAVING ACROSS COUNTRIES -- V. HOW DOES HEW AFFECT HOUSEHOLD SAVING? -- VI....
Persistent link: https://www.econbiz.de/10012691040
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Feeling Rich, Feeling Poor: Housing Wealth Effects and Consumption in Europe
Cevik, Serhan - 2023
mixed results with a wide range of consumption responses to changes in housing wealth. In this paper, using quarterly data …-adjusted housing wealth and consumer spending and obtain statistically significant and economically intuitive results. Household …
Persistent link: https://www.econbiz.de/10015058864
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Wealth Effects in Europe : A Tale of Two Countries (Italy and the United Kingdom)
Muñoz, Sònia - 2006
Intro -- Contents -- I. Introduction -- II. Household Data on Wealth and Consumption -- III. Capital Markets in Europe …
Persistent link: https://www.econbiz.de/10012691071
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Does a Wealth Tax Improve Equality of Opportunity? Evidence from Norway
Berg, Kristoffer - 2021
Does parental wealth inequality impact next generation labor income inequality? And does a tax on parental wealth … intergenerational data from Norway, focusing on effects on wages rather than capital income. Results suggest that a net wealth of NOK 1 …. The estimated hypothetical wage distribution without the wealth tax is more unequal. Moreover, suggestive evidence …
Persistent link: https://www.econbiz.de/10015057904
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Latin America : vulnerabilities under construction?
Cubeddu, Luis; Tovar, Camilo Ernesto; Tsounta, Evridiki - 2012
This paper documents developments in mortgage credit and the housing sector in Latin America over the past decade, and compares them with those of other emerging economies. In particular, it examines the real estate and mortgage markets to assess whether (i) growth in mortgage credit is...
Persistent link: https://www.econbiz.de/10009620961
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Global housing cycles
Igan, Deniz; Loungani, Prakash - 2012
Housing cycles and their impact on the financial system and the macroeconomy have become the center of attention following the global financial crisis. This paper documents the characteristics of housing cycles in a large set of countries, and examines the determinants of house price movements....
Persistent link: https://www.econbiz.de/10009621624
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Is the Canadian Housing Market Overvalued? A Post-Crisis Assessment
Tsounta, Evridiki - 2009
Canadian house prices have increased significantly between 2003 and early 2008, with a marked downward trend since mid-2008, especially in the resource-rich western provinces. This paper estimates the evolution of equilibrium real home prices during this period in key provinces and finds that,...
Persistent link: https://www.econbiz.de/10012677889
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What Goes Up Must Come Down? House Price Dynamics in the United States
Klyuev, Vladimir - 2008
This paper estimates the evolution of equilibrium real home prices in the United States and finds that despite recent declines, single-family homes remained 8 to 20 percent overvalued as of the first quarter of 2008
Persistent link: https://www.econbiz.de/10012678159
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Macroeconomic Patterns and Monetary Policy in the Run-up to Asset Price Busts
Scott, Alasdair - 2009
We find that inflation, output and the stance of monetary policy do not typically display unusual behavior ahead of asset price busts. By contrast, credit, shares of investment in GDP, current account deficits, and asset prices typically rise, providing useful, if not perfect, leading indicators...
Persistent link: https://www.econbiz.de/10012677500
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Monetary and Macroprudential Policy Rules in a Model with House Price Booms
Scott, Alasdair - 2009
We argue that a stronger emphasis on macrofinancial risk could provide stabilization benefits. Simulations results suggest that strong monetary reactions to accelerator mechanisms that push up credit growth and asset prices could help macroeconomic stability. In addition, using a macroprudential...
Persistent link: https://www.econbiz.de/10012677501