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Housing wealth, credit conditions and consumption

Abstract:

There is widespread disagreement about the role of housing wealth in explaining consumption. Much of the empirical literature is marred by poor controls for the common drivers both of house prices and consumption, including income, income growth expectations, interest rates, credit supply conditions, other assets and indicators of income uncertainty (such as changes in the unemployment rate). For instance, while the easing of credit supply conditions is usually followed by a house price boom,...

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Publication status:
Published
Peer review status:
Not peer reviewed

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Institution:
University of Oxford
Division:
SSD
Department:
Economics
Sub department:
CSAE
Research group:
South African Macroeconomic Research Programme
Role:
Author
More by this author
Institution:
University of Oxford
Division:
SSD
Department:
Economics
Research group:
South African Macroeconomic Research Programme
Oxford college:
Nuffield College
Role:
Author
More from this funder
Funding agency for:
Aron, J
Grant:
R8311(DfID)","H52427003594(SRCRF)","R000237500(ESRC)"
"R7291,R7911
Series:
CSAE working paper series
Place of publication:
http://www.csae.ox.ac.uk/workingpapers/main-wps.html
Publication date:
2006-01-01
Language:
English
Keywords:
Subjects:
UUID:
uuid:29773f14-4eba-453e-aa73-7401ae9830bd
Local pid:
ora:2610
Deposit date:
2009-02-16

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