Simo-Kengne, Beatrice D.; Miller, Stephen M.; Gupta, Rangan - Department of Economics, University of Nevada-Las Vegas - 2014
This paper applies a time-varying parameter vector autoregressive (TVP-VAR) approach to estimate the relative effects of housing and stock prices on US consumption over time. We use annual data from 1890 to 2012 and find that over different horizons and over time, generally the housing price...
