the United States, housing collateral effects on consumption are absent. Given credit conditions, rising house prices … mostly explained by movements in incomes, housing supply, mortgage interest rates and credit conditions, suggesting that the …

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

housing services, stochastic and unspanned labor income, stochastic house prices, home renting and owning, stock investments …, and portfolio constraints. The model features habit formation for housing consumption, which leads to optimal decisions … agents and then gradually increasing over life, (ii) that the housing expenditure share is age- and wealth-dependent, (iii …

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 …

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 …

Using the data on maintenance expenditures and self-assessed house value, I separate the measure of individual housing … stock and house prices, and use these data for testing whether nondurable consumption and housing are characterized by … nondurable consumption and housing. I reach a similar conclusion for some separate con-sumption categories, such as food and …

Using the data on maintenance expenditures and self-assessed house value, I separate the measure of individual housing … stock and house prices, and use these data for testing whether nondurable consumption and housing are characterized by … nondurable consumption and housing. I reach a similar conclusion for some separate consumption categories, such as food and …

-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 …