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

We exploit a quasi-experiment to provide new evidence on the magnitude of the housing wealth effect. We estimate an … unexpectedly continued as a result of political bargaining. This source of price variation is ideal to identify housing wealth …

housing wealth e.ect. Stockholm's smaller city airport was expected to close in 2011 but its operating contract was …

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 …

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 …

evidence of a direct wealth effect for housing wealth, in particular, from 1998 to 2011. The responses of consumption in the … for tangible wealth. Also, before 1998 the evidence for a direct wealth effect from either housing wealth or financial …

losses in housing and in their financial portfolios, and that a non-trivial fraction of respondents have lost their job. As a … to consume with respect to housing and financial wealth are 1 and 3.3 percentage points, respectively. In addition, those …