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This paper studies how the change of wealth of households represented by housing prices and stock market prices influences households' consumption. We provide empirical analysis based on the Czech aggregate data from 1998-2009. We analyse the effect of change in households' wealth on the...
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What are the effects of changes in taxation and new types of mortgages on the real economy? - The case of Denmark … during the 00's What are the effects of introducing interest-only, flexible-rate mortgage contracts and a tax-freeze on … financial frictions, and the coexistence of flexible-, fixed-rate and interest-only mortgage contracts. I find that the …
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In order to deal with the rampant increase in housing prices, the Government of the People's Republic of China implemented the home purchase restriction (HPR) policy to curb speculation and prevent housing bubbles. This policy triggered an exogenous demand shock to the housing market. Employing...
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