How do housing wealth effects vary with age?

被引：5
|
作者：
Tobing, Elwin [1 ]
机构：
[1] Azusa Pacific Univ, Sch Business & Management, Azusa, CA 91702 USA
来源：
APPLIED ECONOMICS LETTERS | 2012年 / 19卷 / 07期
关键词：
threshold estimation; wealth effect; CONSUMPTION;
D O I：
10.1080/13504851.2011.593491
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This article investigates whether the housing wealth effect is constant across age. The data are drawn from the Panel Study of Income Dynamics (PSID) for the waves of 2001, 2003 and 2005. Using threshold estimation to endogenously split the sample by age group, we find three threshold age groups of 49, 55 and 65. Housing wealth has a significant and positive effect on the consumption for individuals aged 49 and 55 years, but a negative effect for individuals aged 65 years and older. If age is below 49 or between 55 and 65 years, the housing wealth effect is insignificant.
引用
收藏
页码：649 / 652
页数：4
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