Li, Jiandong; Zhao, Jianmei - In: Economies : open access journal 7 (2019) 1/26, pp. 1-11
The extant literature regarding the effects of housing on stock investment shows inconsistent findings, either positive … or negative effects have been reported. This paper investigates the mechanisms by which housing affects household stock … and quantify the magnitudes of contemporaneous "wealth effects" and "crowd-out effects" of housing on household equity …