make decisions based on their perceived level of housing wealth. Numerical simulations generate the effects of house value …

We solve a rich life-cycle model of household decisions involving consumption of perishable goods and housing services …, habit formation for housing consumption, stochastic labor income, stochastic house prices, home renting and owning, stock …-dependent housing expenditure share, (iii) non-housing consumption being significantly more sensitive to wealth and income shocks than …

-cycle incomplete-markets model with a liquid financial asset and illiquid housing to match the large heterogeneity of households asset …

-cycle incomplete-markets model with a financial asset and housing to match the large heterogeneity of households asset portfolios … substantially across countries, and within countries by household characteristics such as age, housing tenure, and asset positions …

-cycle incomplete-markets model with a financial asset and housing to match the large heterogeneity of households asset portfolios … substantially across countries, and within countries by household characteristics such as age, housing tenure, and asset positions …

-cycle model of household decisions involving consumption of both perishable goods and housing services, stochastic and unspanned …

In a calibrated consumption-portfolio model with stock, housing, and labor income predictability, we disentangle the … studies confirm the relative importance of luck and document that, if anything, housing predictability is more important than …

demonstrates how the share of total wealth held in housing is sensitive to the rate of inflation, even when perfectly anticipated …

make decisions based on their perceived level of housing wealth. Numerical simulations generate the effects of house value …