Housing Wealth
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Housing Wealth And Welfare
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Author : Caroline Dewilde
language : en
Publisher: Edward Elgar Publishing
Release Date : 2017-02-24
Housing Wealth And Welfare written by Caroline Dewilde and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-02-24 with categories.
Both growth and unevenness in the distribution of housing wealth have become characteristic of advanced societies in recent decades. Housing Wealth and Welfare examines, in various contexts, how housing property ownership has become central both to household wellbeing and to the reshaping of social, economic and political relations.
Housing And Family Wealth
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Author : R Forrest
language : en
Publisher: Routledge
Release Date : 2013-07-23
Housing And Family Wealth written by R Forrest and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-07-23 with Social Science categories.
First published in 1995. Routledge is an imprint of Taylor & Francis, an informa company.
Is Housing Wealth An Atm
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Author : Vladimir Klyuev
language : en
Publisher:
Release Date : 2006
Is Housing Wealth An Atm written by Vladimir Klyuev and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Home equity conversion categories.
This paper examines the role increasing personal wealth and home equity withdrawal (HEW) have had in the decline in the personal saving rate in the United States. It does so by comparing the U.S. experience with those of Australia, Canada, and the United Kingdom. Mortgage market liberalization and innovation should reduce household cash flow and collateral constraints while making housing wealth more liquid as HEW becomes easier over time. Regression analysis indicates the expected negative relationship between U.S. saving and net worth, with a somewhat smaller coefficient than in previous studies. HEW is estimated to have a temporary negative impact on saving of the order of 20 cents on the dollar.
Analyzing The Effects Of Financial And Housing Wealth On Consumption Using Micro Data
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Author : Carlos Caceres
language : en
Publisher: International Monetary Fund
Release Date : 2019-05-24
Analyzing The Effects Of Financial And Housing Wealth On Consumption Using Micro Data written by Carlos Caceres and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-24 with Business & Economics categories.
This paper analyzes the existence of “wealth effects” derived from net equity (in the form of housing, financial assets, and total net worth) on consumption. The study uses longitudinal household-level data?from the Panel Study of Income Dynamics (PSID) ?covering about 7,000-9,000 households in the U.S., with the estimations carried over the period 1999-2017. Overall, wealth effects are found to be relatively large and significant for housing wealth, but less so for other types of wealth, including stocks. Furthermore, the analysis shows how these estimated marginal propensities to consume (MPC) from wealth are closely linked to household characteristics, including income and demographic factors. Finally, underlying structural changes in household characteristics point to potentially lower aggregate MPCs from wealth going forward.
Housing Wealth Effects
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Author : Eric S. Belsky
language : en
Publisher:
Release Date : 2004
Housing Wealth Effects written by Eric S. Belsky and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Consumer behavior categories.
Demographic Change And Housing Wealth
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Author : John Doling
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-08-11
Demographic Change And Housing Wealth written by John Doling and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-08-11 with Social Science categories.
Across the EU, populations are shrinking and ageing. An increasing burden is being placed on a smaller working population to generate the taxes required for pensions and care costs. Welfare states are weakening in many countries and across Europe, households are being increasingly expected to plan for their retirement and future care needs within this risky environment. At the same time, the proportion of people buying their own home in most countries has risen, so that some two-thirds of European households now own their homes. Housing equity now considerably exceeds total European GDP. This book discusses questions like: to what extent might home ownership provide a potential cure for some of the consequences of ageing populations by realizing housing equity in order to meet the consumption needs of older people? What does this mean for patterns of inheritance and longer-term inequalities across Europe? And to what extent are governments banking on their citizens utilising their housing wealth now and in the future?
The Mythical Housing Wealth Effect
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Author : Charles W. Calomiris
language : en
Publisher:
Release Date : 2009
The Mythical Housing Wealth Effect written by Charles W. Calomiris and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Consumption (Economics) categories.
Models used to guide policy, as well as some empirical studies, suggest that the effect of housing wealth on consumption is large and greater than the wealth effect on consumption from stock holdings. Recent theoretical work, in contrast, argues that changes in housing wealth are offset by changes in housing consumption, meaning that unexpected shocks in housing wealth should have little effect on non-housing consumption. We reexamine the impact of housing wealth on non-housing consumption, employing the Case-Quigley-Shiller data on U.S. housing wealth that have been used in prior studies to estimate a large housing wealth effect. Existing empirical work fails to control for the fact that changes in housing wealth may be correlated with changes in expected permanent income, biasing the resulting estimates. Once we control for the endogeneity bias resulting from the correlation between housing wealth and permanent income, we find that housing wealth has a small and insignificant effect on consumption. Additional analysis of time-series results provides further support for that view.
The Blackwell Companion To The Economics Of Housing
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Author : Susan J. Smith
language : en
Publisher: John Wiley & Sons
Release Date : 2010-01-22
The Blackwell Companion To The Economics Of Housing written by Susan J. Smith and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-01-22 with Business & Economics categories.
The Blackwell Companion to the Economics of Housing willhelp students and professionals alike to explore key elements ofthe housing economy: home prices, housing wealth, mortgage debt,and financial risk. Features 24 original essays, including an editorialintroduction and three section overviews Includes 39 world-class authors from a mix of educational andfinancial organizations in the UK, Europe, Australia, and NorthAmerica Broadly-based, scholarly, and accessible, serving students andprofessionals who wish to understand how today’s housingeconomy works Profiles the role and relevance of housing wealth; themismanagement of mortgage debt; and the pitfalls and potential ofhedging housing risk Key topics include: the housing price bubble and crash; thesubprime mortgage crisis in the US and its aftermath; the linksbetween housing wealth, the macroeconomy, and the welfare ofhome-occupiers; the mitigation of credit and housing investmentrisks Specific case studies help to illustrate concepts, along withnew data sets and analyses to illustrate empirical points
Das House Kapital
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Author : Volker Grossman
language : en
Publisher: International Monetary Fund
Release Date : 2017-03-30
Das House Kapital written by Volker Grossman and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-30 with Business & Economics categories.
There are, by now, several long term, time series data sets on important housing & macro variables, such as land prices, house prices, and the housing wealth-to-income ratio. However, an appropriate theory that can be employed to think about such data and associated research questions has been lacking. We present a new housing & macro model that is designed specifically to analyze the long term. As an illustrative application, we demonstrate that the calibrated model replicates, with remarkable accuracy, the historical evolution of housing wealth (relative to income) after World War II and suggests a further considerable increase in the future. The model also accounts for the close connection of house prices to land prices in the data. We also compare our framework to the canonical housing & macro model, typically employed to analyze business cycles, and highlight the main differences.
Housing Wealth And Aggregate Saving
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Author : Jonathan Skinner
language : en
Publisher:
Release Date : 1989
Housing Wealth And Aggregate Saving written by Jonathan Skinner and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Consumption (Economics) categories.
The recent appreciation in housing value can have large effects on aggregate saving. This paper uses a simulation model to show that aggregate saving will decline substantially if life cycle homeowners spend down their housing windfalls. Homeowners with a bequest motive, however, may save more to assist their children in buying the now more expensive housing. To test whether families spend their housing capital gains, I use housing, income, and consumption data from the Panel Study of Income Dynamics. While a cross-section time-series regression implies that housing wealth does affect saving, a fixed-effects model finds no effect.