Peltonen, Tuomo; Sousa, Ricardo M.; Vansteenkiste, Isabel - 2009
on consumption. Using modern panel data econometric techniques and quarterly data for the period 1990:1-2008:2, we show … countries; (iii) housing wealth effects have increased for Asian coutries in recent years; and (iv) consumption reacts stronger … to negative than to positive shocks in housing and financial wealth. -- Wealth effects ; consumption ; emerging markets …