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Euro Area Private Consumption : Is There a Role for Housing Wealth Effects?

Skudelny, Frauke - 2009

the period 1980-2006, and one on the individual euro area countries from1995-2006, using panel data techniques. The impact …, the panel estimation yields somewhat lower results (0.6 to 1.1 cents). The MPC out of nominal housing wealth lies between … effect of volatile house prices, we find similar effects in the times series estimation while the MPC is larger in the panel …

Persistent link: https://www.econbiz.de/10013159721

Financial Literacy and Savings Account Returns

Deuflhard, Florian - 2015

Savings accounts are owned by most households, but little is known about the performance of households' investments. We create a unique dataset by matching information on individual savings accounts from the DNB Household Survey with market data on account-specific interest rates and...

Persistent link: https://www.econbiz.de/10013014617

Booms and Busts in Housing Markets : Determinants and Implications

Agnello, Luca - 2009

Panel Probit model over the period 1980-2007. It finds that 1) most recent housing booms have been very persistent and of a …

Persistent link: https://www.econbiz.de/10013158164

Spatial Dependence in Commercial Property Prices : Micro Evidence from the Netherlands

Özyurt, Selin - 2014

the Netherlands. Using quarterly data from the Investment Property Databank (IPD), the analysis covers a total of 10 …

Persistent link: https://www.econbiz.de/10013060537

House Prices and Monetary Policy in the Euro Area : Evidence from Structural VARs

Nocera, Andrea - 2017

We use a Bayesian stochastic search variable selection structural VAR model to investigate the heterogeneous impact of housing demand shocks on the macro-economy and the role of house prices in the monetary policy transmission, across euro area countries. A novel set of identification...

Persistent link: https://www.econbiz.de/10012954350

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Household Wealth in the Euro Area : The Importance of Intergenerational Transfers, Homeownership and House Price Dynamics

Mathä, Thomas - 2014

Results from the Eurosystem Household Finance and Consumption Survey reveal substantial variation in household net wealth across euro area countries that await explanation. This paper focuses on three main factors for the wealth accumulation process, i) homeownership, ii) housing value...

Persistent link: https://www.econbiz.de/10013054675

Wealth Effects on Consumption - Evidence from the Euro Area

Sousa, Ricardo M. - 2009

This paper estimates the wealth effects on consumption in the euro area as a whole. I show that: (i) financial wealth effects are relatively large and statistically significant; (ii) housing wealth effects are virtually nil and not significant; (iii) consumption growth exhibits strong...

Persistent link: https://www.econbiz.de/10013160476

Housing Finance and Monetary Policy

Calza, Alessandro; Monacelli, Tommaso; Stracca, Livio - 2021

We study how the structure of housing finance affects the transmission of monetary policy shocks. We document three main facts: first, the features of residential mortgage markets differ markedly across industrialized countries; second, and according to a wide range of indicators, the...

Persistent link: https://www.econbiz.de/10013316354

House Prices, Money, Credit and the Macroeconomy

Goodhart, Charles A. E.; Hofmann, Boris - 2021

over the last three decades. The analysis is based on a fixed-effects panel VAR estimated using quarterly data for 17 …

Persistent link: https://www.econbiz.de/10013316547

Housing and Equity Wealth Effects of Italian Households

Grant, Charles; Peltonen, Tuomo - 2021

Italian household panel data (SHIW) of 1989-2002. We found all households react similarly to aggregate housing and stock …

Persistent link: https://www.econbiz.de/10013316629