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of homeownership in Malta, the median net wealth in Malta was estimated to be significantly higher than in the euro area …
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, the estimated elasticity is consistent, theoretically and quantitatively, with a simple calibrated model with wealth …
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In an influential paper, Mian, Rao and Sufi (2013) exploit geographic variation in housing supply elasticities to measure the effect of changes in the housing share of net worth on total household expenditures during the Great Recession. Their widely-cited estimates are based on proprietary...
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This paper examines the relationship between consumption and wealth in Australia. We find a steady-state relationship … between non-durables consumption, labour income and aggregate household wealth for the period 1988-1999. We also find that …
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