Cristini, Annalisa; Sevilla, Almudena - Institute for the Study of Labor (IZA) - 2013
house prices on consumption documented in two papers using the same data set for the UK. On the one hand, Campbell and Cocco …-called wealth hypothesis. On the other hand, Attanasio, Blow, Hamilton, and Leicester (2009) find that house prices have the same … conflicting results in the two papers. Our findings revive the debate of whether there is an effect of house prices on consumption. …