in housing values affect consumption. We find that consumer expenditures do react to capital gains, with a marginal …We use detailed data on housing prices in Italy available for a large number of years and with a fine geographical … breakdown to compute capital gains and losses on the most widespread asset among consumers, housing, and inquire whether changes …

household consumption positively in the long-run, with the elasticity of housing wealth being greater than that of stock market … prices � on private consumption for a panel of sixteen emerging economies in Asia and Central and Eastern Europe. Using … vulnerable to further adverse developments in the housing market. …

real and financial wealth positively affect households' consumption in the long-run, with the elasticity of housing wealth …In this paper I estimate the impact of changes in real and financial wealth on private consumption for a panel of 17 … emerging economies from Asia and Central and Eastern Europe. Households' consumption, income and the two measures of real and …

Keynesian model with a housing sector and financial frictions on the household side. We show that the social welfare maximizing … monetary policy rule features a reaction to house price variations, when the latter are generated by housing demand or …

We estimate the effects of stock market volatility on the growth rates of durable consumption, non-durable consumption … adverse effects on the growth rates of investment and durable consumption, whereas the in uence on non-durable consumption …

We estimate the effects of stock market volatility on the growth rates of durable consumption, non-durable consumption … adverse effects on the growth rates of investment and durable consumption, whereas the in uence on non-durable consumption …

housing collateral as determinants in the long run consumption equation. The estimated long run marginal propensities to …A stable, long run consumption equation is estimated for Australia using quarterly data from 1977(2) to 2008(2). The …-2008, the log consumption to income ratio rose by around 14 percentage points. The relaxation of households' downpayment and …

We build a panel of 14 emerging economies to estimate the magnitude of wealth effects on consumption. Using modern … magnitude; (ii) stock market and housing wealth effects are, generally, smaller for Latin American emerging markets; and (iii …) housing wealth effects have substantially increased for Asian emerging economies in recent years. Additionally, while housing …