INNOVATION AND LIBERALIZATION ON HOME EQUITY WITHDRAWAL ( HEW) AND SAVING -- IV. TRENDS IN HEWAND HOUSEHOLD SAVING ACROSS … COUNTRIES -- V. HOW DOES HEW AFFECT HOUSEHOLD SAVING? -- VI. ECONOMETRIC ANALYSIS -- VII. RECENT EXPERIENCE OF HEW IN AUSTRALIA … MORTGAGE PRODUCT INNOVATION -- II. DATA ISSUES -- References. …

-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 …

fluctuations in household wealth have driven major swings in economic activity. This paper considers so-called wealth effects - the … impact of changes in wealth on household consumption and the overall macroeconomy. There is an extensive existing literature …

household net worth coming from elevated household debt and the collapse in house prices play an underappreciated role. Using … highlight the increasing body of macroeconomic evidence on the link between household debt and business cycles. Our main … conclusion is that housing and household debt should play a larger role in models exploring the importance of household …

, since most housing is not simply financed out of current cash holdings but by mortgages, the institutions on mortgage … population) as well in mortgage markets have led to a structural break in the effect of housing wealth on consumption in the mid …

, since most housing is not simply financed out of current cash holdings but by mortgages, the institutions on mortgage … population) as well as in mortgage markets have led to a structural break in the effect of housing wealth on consumption in the …

In this paper we examine whether house price changes drive mortgage-based equity extraction. To do this we use … information about mortgage borrowing as well as savings in various financial instruments. We find a marginal propensity to extract … actively taken out a new mortgage. These results point to the existence of a housing wealth effect that is intimately connected …