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Analyzing the effects of financial and housing wealth on consumption using micro data

Caceres, Carlos - 2019

This paper analyzes the existence of 'wealth effects' derived from net equity (in the form of housing, financial assets, and total net worth) on consumption. The study uses longitudinal household-level data?from the Panel Study of Income Dynamics (PSID) ?covering about 7,000-9,000 households in...

Persistent link: https://www.econbiz.de/10012022025

The anatomy of the transmission of macroprudential policies

Acharya, Viral V.; Bergant, Katharina; Crosignani, Matteo; … - 2020

-a?ect residential mortgage credit and house prices as well as other asset classes not directly targeted by the limits. Supervisory loan … level data suggest that mortgage credit is reallocated from low-to high-income borrowers and from urban to rural counties …

Persistent link: https://www.econbiz.de/10012251338

Household deleveraging and saving rates : a cross-country analysis

Bouis, Romain - 2021

Historically high household debt in several economies is calling for a deleveraging, but according to some economists, this adjustment can slow GDP growth by weighing on consumption. Using a sample of advanced and emerging market economies, this paper finds evidence of a negative relationship...

Persistent link: https://www.econbiz.de/10012796301

Real estate in the Netherlands : a taxonomy of risks and policy challenges

Geis, André; Luca, Oana - 2021

Soaring real estate prices and valuations despite the economic downturn brought by the pandemic have focussed the attention of Dutch policymakers on potential macro-financial and socio-economic implications. In this context, our paper reviews the salient features of Dutch commercial and...

Persistent link: https://www.econbiz.de/10012605499

The Impact of Changes in Stock Prices and House Priceson Consumption in OECD Countries

Ludwig, Alexander - 2002

This paper quantifies the different impact of stock and house prices on consumption using data for 16 OECD countries. The analysis finds that the long-run impact of an increase in stock prices and house prices is in general higher in countries with a market-based financial system. The...

Persistent link: https://www.econbiz.de/10014400053

Price expectations and the U.S. housing boom

Towbin, Pascal; Weber, Sebastian - 2015

, housing demand, and mortgage rate shocks. House price expectation shocks are the most important driver of the boom and account …

Persistent link: https://www.econbiz.de/10011373920

The Role of Affordable Mortgages in Improving Living Standards and Stimulating Growth : A Survey of Selected Mena Countries

Nothaft, Frank E. - 2002

This paper argues that making affordable home mortgage loans available to a large cross section of the population will … and mortgage markets in selected Middle East and North Africa (MENA) countries (Algeria, Egypt, Jordan, Morocco, and … growth of alleviating housing shortages by improving access to mortgage financing …

Persistent link: https://www.econbiz.de/10014400057

Das House-Kapital : a long term housing & macro model

Grossmann, Volker; Steger, Thomas M. - 2017

There are, by now, several long term, time series data sets on important housing and macro variables, such as land prices, house prices, and the housing wealth-to-income ratio. However, an appropriate theory that can be employed to think about such data and associated research questions has been...

Persistent link: https://www.econbiz.de/10011670494

Household leverage and the recession

Jones, Callum; Midrigan, Virgiliu; Philippon, Thomas - 2018

We evaluate and partially challenge the 'household leverage' view of the Great Recession. In the data, employment and consumption declined more in states where household debt declined more. We study a model where liquidity constraints amplify the response of consumption and employment to changes...

Persistent link: https://www.econbiz.de/10011905926

Mortgage defaults

Hatchondo, Juan Carlos; Martinez, Leonardo; Sanchez, Juan M. - 2012

Persistent link: https://www.econbiz.de/10009423925

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