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The Role of Wealth in the Economy: the 2002 Annual Meeting Papers of the Royal Netherlands Economic Association

Alessie, R.J.M.; Els, P.J.A. van; Hoogduin, L.H. - de Nederlandsche Bank - 2002

This study is an introduction to and summary of the 2002 Annual Meeting papers of the Royal Netherlands Economic Association. The general theme of this year's Annual Meeting is 'The role of wealth in the economy'. It is covered by 5 papers, which address the following topics: (i) household...

Persistent link: https://www.econbiz.de/10005021879

Decomposing Consumer Wealth Effects: Evidence on the Role of Real Estate Assets Following the Wealth Cycle of 1990-2002

Donihue, Michael; Avramenko, Andriy - In: Topics in Macroeconomics 7 (2007) 1, pp. 1472-1472

predictions at the time by some analysts relying on life-cycle models of consumption, consumer spending in real terms continued to … macroeconomic wealth effects on consumption confront two puzzles: (i) econometric evidence of a stable cointegrating relationship … among consumption, income, and wealth is weak at best; and (ii) life-cycle models that rely on aggregate measures of wealth …

Persistent link: https://www.econbiz.de/10005579790

Is Your Bubble About to Burst?

Tatom, John - Volkswirtschaftliche Fakultät, … - 2005

House prices have risen quite sharply since 2000. Coming on the heels of a stock market crash, many analysts have raised the specter of collapse in house prices and have conjured up dire consequences from such a collapse. This article examines the extent of the house price rise, whether there...

Persistent link: https://www.econbiz.de/10005620161

Explaining Household Saving Rates in G7 Countries: Implications for Germany

Hüfner, Felix; Koske, Isabell - Economics Department, Organisation de Coopération et … - 2010

Many propositions have been made to explain the increase in the German household saving rate since the year 2000 from an individual country perspective but most of them focus on partial aspects. This paper adds to the discussion by analysing whether factors common to other industrial countries...

Persistent link: https://www.econbiz.de/10008542495

Stock market wealth effects in an estimated DSGE model for Hong Kong

Funke, Michael; Paetz, Michael; Pytlarczyk, Ernest - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2009

This paper develops and estimates an open economy dynamic stochastic general equilibrium (DSGE) model of the Hong Kong economy. The model features short-run price rigidities generated by monopolistic competition and staggered reoptimisation. The model is enhanced with wealth effects due to stock...

Persistent link: https://www.econbiz.de/10008477161

Wealth Effects on Consumption in Austria

Fenz, Gerhard; Fessler, Pirmin - In: Monetary Policy & the Economy (2008) 4, pp. 68-84

micro and macro data to examine the possible consequences of this loss of wealth on the consumption behavior of households … minor effect on private consumption and economic growth in Austria. Moreover, this effect only occurs with a substantial lag …

Persistent link: https://www.econbiz.de/10005273237

Wealth effects in emerging economies

Ciarlone, Alessio - Banca d'Italia - 2012

prices ï¿½ on private consumption for a panel of sixteen emerging economies in Asia and Central and Eastern Europe. Using … household consumption positively in the long-run, with the elasticity of housing wealth being greater than that of stock market …

Persistent link: https://www.econbiz.de/10009645796

Housing markets after the crisis: lessons for the macroeconomy.

de Bandt, O.; Ferrara, F.; Vigna, O. - In: Quarterly selection of articles - Bulletin de la Banque … (2010) 17, pp. 39-45

As the current crisis has shown, housing markets give rise to significant macroeconomic shocks. This calls for their regular monitoring both from a monetary policy and financial stability point of view.

Persistent link: https://www.econbiz.de/10009276941

The Effect of stock market wealth on private consumption in Zimbabwe

Bindu, Samuel; Chigusiwa, Lloyd; Mazambani, D.; … - In: International Journal of Business and Economic Sciences … 4 (2011) 2, pp. 125-142

The study seeks to examine stock market wealth effects on private non-durable consumption for Zimbabwean households … relationship between stock market wealth and consumption. An autoregressive distributed lag model (ARDL) analysis is implemented to …

Persistent link: https://www.econbiz.de/10009292068

How do consumers respond to house price declines?

Gathergood, John - In: Economics Letters 115 (2012) 2, pp. 279-281

consumer spending among households in the United Kingdom. 30% of households report they would cut back consumption as a direct … would cut consumption. …

Persistent link: https://www.econbiz.de/10010572131