There is widespread disagreement about the role of housing wealth in explaining consumption.  This paper exploits … authors, to explain fluctuations in the ratios of consumption and household debt to income in South Africa, from 1971 to 2005 … variable with key interactions with drivers of consumption and debt.  Credit conditions are proxied by a spline function …

Australian data, we model non-price credit supply conditions within equilibrium correction models of consumption, house prices …, but also interact with key economic variables. We show that credit conditions impact on consumption by: (i) lowering the … real activity; and (iii) facilitating intertemporal consumption smoothing. …

framework for analysing the household flow of funds jointly with consumption. The consumption function incorporates household … interest rates. In a general equilibrium setting, these all have to be endogenised and since households make consumption and …

modelling framework for analysing the household flow of funds jointly with consumption.  The consumption function incorporates … consumption and housing purchase decisions jointly with portfolio decisions, there is much to be gained in modelling a household …

There is widespread disagreement about the role of housing wealth in explaining consumption. This paper exploits liquid …, to explain fluctuations in the ratios of consumption and household debt to income in South Africa, from 1971 to 2005. The … variable with key interactions with drivers of consumption and debt. Credit conditions are proxied by a spline function …

framework for analysing the household flow of funds jointly with consumption. The consumption function incorporates household … interest rates. In a general equilibrium setting, these all have to be endogenised and since households make consumption and …

consumption, construction and the banking system. This paper examines links for Germany between household portfolios, income and … consumption in a six-equation system, for 1980-2012 data, for consumption, house prices, consumer credit, housing loans, liquid … find evidence of well specified consumption and house price functions and that Germany differs greatly from the Anglo …

literature is marred by poor controls for the common drivers both of house prices and consumption, including income, income … price boom, failure to control for the direct effect of credit liberalization on consumption canover-estimate the effect of … housing wealth or collateral on consumption. This paper suggests an empirical model grounded in theory with more complete …

Economic theory suggests circumstances in which a rise in short term real interest rates can increase consumption … aggregate consumption including imputed rent are small and negative. Positive effects of the kind found in the UK and the US are … enhance the negative effect on consumption of higher houseprices because saving for a housing deposit needs to be higher. Our …