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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...
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The flood of foreclosures on residential mortgages in the past several years has had a significant impact on household …'s household after their mortgage has been foreclosed. In this paper, we study the post-foreclosure experience of U.S. households … effect of foreclosure on household size and migration patterns, including the distance that a household typically moves and …
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household final consumption for 11 advanced countries over the period from 1970 Q1 to 2015 Q4. As a modelling strategy, we …
Persistent link: https://www.econbiz.de/10012917219
-based housing market model, calibrated using U.K. household survey data. We apply different Loan-to-Value (LTV) caps for different … household debt, wealth inequality and consumption volatility. The households' consumption function, in the model, incorporates a … caps affect household debt, wealth inequality and consumption volatility differently, mediated by changes in the housing …
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We solve a rich life-cycle model of household decisions involving consumption of perishable goods and housing services …
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