Affuso, Ermanno; Istiak, Khandokar; Swofford, James L. - In: Journal of risk and financial management : JRFM 15 (2022) 9, pp. 1-17
This study differentiates between housing wealth and financial wealth and investigates whether changes in house prices and changes in interest rates have positive effects on the fertility rate. The study uses U.S. data between 1975-2020, a structural VAR model, and a Toda-Yamamoto causality test...