We use detailed micro data to document a causal response of local retail prices to changes in local house prices, with elasticities of 15%-20% across housing booms and busts. Notably, these price responses are largest in zip codes with many homeowners, and non-existent in zip codes with mostly...

The study primarily explores the linkage between wealth effects, arising from stock and housing market channels, and household final consumption for 11 advanced countries over the period from 1970 Q1 to 2015 Q4. As a modelling strategy, we employ regression analysis through the common correlated...

Intro -- Contents -- I. INTRODUCTION -- II. HAVE SAVING RATES REALLY FALLEN? -- III. LIKELY IMPACT OF FINANCIAL 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....

Using a longitudinal data set from South Korea, we estimate the impact of housing wealth on labor supply and the retirement behavior of elderly workers. Estimation results from our model suggest that house wealth variations significantly influence the labor supply of older workers. The housing...