loan to increase lifetime savings are significantly more likely to underestimate their house value, while homeowners who … "cash-out refinance" an existing loan to fund current consumption are significantly more likely to overestimate their house …

Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in … the classic Ando-Modigliani consumption function augmented by housing wealth can be deduced. It is shown that the deeper … population) as well as in mortgage markets have led to a structural break in the effect of housing wealth on consumption in the …

Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in … changes in consumption. However, this might be a fallacy of composition. Such models ignore that changes in housing wealth … the classic Ando-Modigliani consumption function augmented by housing wealth can be deduced. It is shown that the deeper …

ex ante homeowners who rate (cash-out) refinance an existing loan to increase savings (consumption) are significantly …

paper we study the effect of this developmenton the demand for second mortgages and on the savings of Dutch households. We …) the savings of renters that may be considered as would-beowners. We find a significant effect of home equity on the demand … for second mortgages.Savings of homeowners decrease when house prices accelerate. We find no evidence that inc …

Exploring dynamics of household final consumption is an important concern for policy-makers. Turkey had witnessed … and therefore, other macroeconomic variables. In this paper, we examine the linkage between household final consumption … positively, interest rate and equity market wealth are negatively associated with consumption. Variance decomposition and impulse …

We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel … information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information … contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk. The …

We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel … information on consumption, income and wealth, to structurally estimate a buffer-stock saving model. We exploit the information … contained in the joint dynamics of income, consumption and wealth to quantify the degree of insurance against income risk …

, and total net worth) on consumption. The study uses longitudinal household-level data?from the Panel Study of Income … wealth are closely linked to household characteristics, including income and demographic factors. Finally, underlying … structural changes in household characteristics point to potentially lower aggregate MPCs from wealth going forward …