Case, Karl E.; Quigley, John M.; Shiller, Robert J. - National Bureau of Economic Research (NBER) - 2011
We re-examine the link between changes in housing wealth, financial wealth, and consumer spending. We extend a panel of U.S. states observed quarterly during the seventeen-year period, 1982 through 1999, to the thirty-one year period, 1978 through 2009. Using techniques reported previously, we...
