I characterize how house price shocks affect consumption inequality using a life-cycle model of housing and non-housing …

and saving for young and old home-owners, both through a direct wealth eff ect and through housing equity serving as …

and saving for young and old home-owners, both through a direct wealth eff ect and through housing equity serving as …

Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in … which housing price changes work as a "wealth effect". In such models, windfall gains in housing always lead to positive … changes in consumption. However, this might be a fallacy of composition. Such models ignore that changes in housing wealth …

Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in … which housing price changes work as a "wealth effect". In such models, windfall gains in housing always lead to positive … changes in consumption. However, this might constitute a fallacy of composition. Such models ignore that changes in housing …

Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in … which housing price changes work as a "wealth effect". In such models, windfall gains in housing always lead to positive … changes in consumption. However, this might be a fallacy of composition. Such models ignore that changes in housing wealth …

The common-factor hypothesis is one possible explanation for the housing wealth effect. Under this hypothesis, house … price appreciation is related to changes in consumption as long as the available proxies for the common driver of housing … and non-housing demand are noisy and housing supply is not perfectly elastic. We simulate a model in which a common factor …

Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in … which housing price changes work as a "wealth effect". In such models, windfall gains in housing always lead to positive … changes in consumption. However, this might be a fallacy of composition. Such models ignore that changes in housing wealth …

The study quantifies stock market and housing market wealth effects on households' non-durable consumption using … insignificant housing wealth effects. However, we found homeowners' MPC out of housing wealth gains to be The study quantifies stock … market and housing market wealth effects on households' non-durable consumption using Italian household panel data (SHIW) of …

We estimate the wealth effects of housing and stock market wealth using time-series data for eight developed countries … interactions of shocks to housing prices, stock values, and disposable incomes. Our results show that for these countries the … initial consumption response to housing price shocks is greater than to stock market capitalization shocks, but the long …