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Do House Prices Impact Consumption and Interest Rate? Evidence from OECD Countries using an Agnostic Identification Procedure
Andre, Christophe; Gupta, Rangan; Kanda, Patrick T. - Department of Economics, Faculty of Economic and … - 2011
, residential investment, real house prices and mortgage loans, while private consumption and nominal interest rate responses are … left unrestricted. The results suggest that consumption responds positively and significantly to a house price shock in …
Persistent link: https://www.econbiz.de/10009323420
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Do House Prices Impact Consumption and Interest Rate? Evidence from OECD Countries using an Agnostic Identification Procedure
Andre, Christophe; Gupta, Rangan; Kanda, Patrick T. - In: Applied Economics Quarterly (formerly: Konjunkturpolitik) 58 (2012) 1, pp. 19-70
prices, residential investment, real house prices and mortgage loans, while private consumption and nominal interest rate … responses are left unrestricted. The results suggest that consumption responds positively and significantly to a house price …
Persistent link: https://www.econbiz.de/10010639468
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Debt dynamics and monetary policy: A note
Laséen, Stefan; Strid, Ingvar - 2013
"Leaning against the wind" - a tighter monetary policy than necessary for stabilizing inflation around the inflation target and unemployment around a long-run sustainable rate - has been justified as a way of reducing household indebtedness. In a recent paper Lars Svensson claims that this...
Persistent link: https://www.econbiz.de/10010427086
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Debt dynamics and monetary policy : a note
Laséen, Stefan; Strid, Ingvar - 2013
"Leaning against the wind" - a tighter monetary policy than necessary for stabilizing inflation around the inflation target and unemployment around a long-run sustainable rate - has been justified as a way of reducing household indebtedness. In a recent paper Lars Svensson claims that this...
Persistent link: https://www.econbiz.de/10010227164
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Debt Dynamics and Monetary Policy: A Note
Laséen, Stefan; Strid, Ingvar - Sveriges Riksbank - 2013
"Leaning against the wind" – a tighter monetary policy than necessary for stabilizing inflation around the inflation target and unemployment around a long-run sustainable rate – has been justified as a way of reducing household indebtedness. In a recent paper Lars Svensson claims that this...
Persistent link: https://www.econbiz.de/10010733867
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Do House Prices Impact Consumption and Interest Rate in South Africa? Evidence from a Time-Varying Vector Autoregressive Model
Peretti, Vittorio; Gupta, Rangan; Inglesi-Lotz, Roula - Department of Economics, Faculty of Economic and … - 2012
This paper investigates the existence of spillovers from the housing sector onto consumption and the interest rate for … estimate a three-variable TVP-VAR model comprising of real consumption growth rate, the nominal three-months Treasury bill rate … and the growth rate of real house prices. The results suggest that, in general, consumption responded positively to a …
Persistent link: https://www.econbiz.de/10010552942
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Do Stock Prices Impact Consumption and Interest Rate in South Africa? Evidence from a Time-Varying Vector Autoregressive Model
Aye, Goodness C.; Gupta, Rangan; Modise, Mampho P. - Department of Economics, Faculty of Economic and … - 2012
This paper investigates the existence of spillovers from stock prices onto consumption and the interest rate for South … three-variable TVP-VAR model comprising of real consumption growth rate, the nominal three-months Treasury bill rate and the … growth rate of real stock prices. We find that the impact of a real stock price shocks on consumption is in general positive …
Persistent link: https://www.econbiz.de/10010658702
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Debt Dynamics and Monetary Policy : A Note
Laseen, Stefan - 2014
"Leaning against the wind" - a tighter monetary policy than necessary for stabilizing inflation around the inflation target and unemployment around a long-run sustainable rate - has been justified as a way of reducing household indebtedness. In a recent paper Lars Svensson claims that this...
Persistent link: https://www.econbiz.de/10013052303
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Looking into the rear-view mirror : lessons from Japan for the Eurozone and the U.S?
Siklos, Pierre L. - In: Asia and the global economy : AGE 1 (2021) 1, pp. 1-20
This paper reconsiders the narratives surrounding Japan's economic performance since the 1980s in relation to the experiences of the U.S. and the Eurozone. There are important differences between these three economies and some striking parallels. It is found that the poor reputation of the Bank...
Persistent link: https://www.econbiz.de/10012816140
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Housing Markets, Wealth and the Business Cycle
Catte, Pietro; Girouard, Nathalie; Price, Robert W.R.; … - Economics Department, Organisation de Coopération et … - 2004
mortgage markets. The paper focuses specifically on: the transmission channel from housing wealth to consumption and on the … that the strongest impact on consumption is in countries that have large, efficient and responsive mortgage markets … immobilière à la consommation et aux facteurs expliquant la variabilité des prix des logements ; ces deux aspects contribuent à …
Persistent link: https://www.econbiz.de/10005046210