Consumption and housing net worth: Cross-country evidence

被引：3
|
作者：
Cronin, David
McQuinn, Kieran
机构：
[1] Cent Bank Ireland, Dublin, Ireland
[2] Econ & Social Res Inst ESRI, Dublin, Ireland
来源：
ECONOMICS LETTERS | 2021年 / 209卷
关键词：
Housing net worth; House prices; Consumption; BUSINESS CYCLES;
D O I：
10.1016/j.econlet.2021.110140
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Using a 22-country OECD panel from 1996 to 2017, we examine the extent to which the housing net worth channel affects personal consumption internationally during a period of considerable variation in house prices and credit provision. We identify an asymmetrical response where declines in housing net worth have a much greater impact on consumption than arises for positive changes in net worth. (C) 2021 Elsevier B.V. All rights reserved.
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页数：3
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