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In this paper we examine the role of mortgage equity withdrawal in explaining the decline of the US saving rate, since when house prices rise and mortgage rates are low, homeowners have an incentive to withdraw housing equity and this may affect the saving rate. We estimate a Vector Error...
Persistent link: https://www.econbiz.de/10010283598
This paper investigates the potentially non-linear relation between households' indebtedness and their consumption … previous studies, we find a negative effect of households' indebtedness on their consumption, even in the absence of negative …, rather than its overall sustainability, that leads households to reduce their consumption. We perform as well a threshold …
Persistent link: https://www.econbiz.de/10012486606
This paper investigates the potentially non-linear relation between households' indebtedness and their consumption … Survey. Unlike previous studies, we find a negative effect of households' indebtedness on their consumption, even in the …-to-day sustainability of the debt, rather than its overall sustainability, that leads households to reduce their consumption. To explore …
Persistent link: https://www.econbiz.de/10012437753
This paper investigates the potentially non-linear relation between households' indebtedness and their consumption … previous studies, we find a negative effect of households' indebtedness on their consumption, even in the absence of negative …, rather than its overall sustainability, that leads households to reduce their consumption. We perform as well a threshold …
Persistent link: https://www.econbiz.de/10012494203
Persistent link: https://www.econbiz.de/10009573967
Persistent link: https://www.econbiz.de/10010234911
Persistent link: https://www.econbiz.de/10012671979
We study the role of institutional characteristics of mortgage markets in affecting the strength and timing of the effects of monetary policy shocks on house prices and consumption in a sample of OECD countries. We document three facts: (1) there is significant divergence in the structure of...
Persistent link: https://www.econbiz.de/10010298359
As significant part of national wealth, households' wealth is the central issue in both policy debate and academic … literature. Nevertheless, in Hungary little effort has been made so far to conduct thorough evaluation of households' wealth for … also display the estimated wealth levels of households. Based on international comparison and econometric techniques, it is …
Persistent link: https://www.econbiz.de/10010322400
paper we study the effect of this developmenton the demand for second mortgages and on the savings of Dutch households. We … Realtors. Households therefore seem to be wellaware of the increase in the value of their house. We use panel data methods to …
Persistent link: https://www.econbiz.de/10010325002