housing are offset by commensurate changes in wealth before the move. Using Census micro-data, we find that the cross …

Models used to guide policy, as well as some empirical studies, suggest that the effect of housing wealth on … consumption is large and greater than the wealth effect on consumption from stock holdings. Recent theoretical work, in contrast …, argues that changes in housing wealth are offset by changes in housing consumption, meaning that unexpected shocks in housing …

This paper examines the empirical link between house price appreciation and the savings behavior of home owners during … from the 1984 and 1989 waves of the PSID to construct changes in real household wealth as a measure of household saving … behavior. Cross-time and cross-regional variation in housing market conditions are used to identify behavior savings effects …

We test the effectiveness of self-help peer groups as a commitment device for precautionary savings, through two … powerful tool to increase savings (the number of deposits grows 3.5-fold and the average savings balance almost doubles …

. We propose a novel consumption-savings model in which a consumer has a well-defined preference ordering over both …