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House price rises and borrowing to invest
Crossley, Thomas F.; Levell, Peter; Low, Hamish - 2024
is not consumption. We propose a borrow-to-invest motive by which house price gains affect household spending on …, rather than through consumption smoothing. We test this motive by comparing responses in different categories of spending …
Persistent link: https://www.econbiz.de/10014581808
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House price rises and borrowing to invest
Crossley, Thomas; Levell, Peter; Low, Hamish - 2020
is not consumption. We propose an alternative borrow-to-invest channel by which house price gains affect household … through reducing access to leveraged returns and so reducing lifetime resources, rather than through consumption smoothing. …
Persistent link: https://www.econbiz.de/10012265332
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Wealth and welfare across generations
Sturrock, David - 2023
less patient. I quantify the implications of changing circumstances for consumption and welfare. Later-born generations are … predicted to have higher consumption, despite accumulating no greater wealth, than their predecessors because their earnings are …
Persistent link: https://www.econbiz.de/10014480397
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Durables and lemons: Private information and the market for cars
Blundell, Richard W.; Gu, Ran; Leth-Petersen, Søren; … - 2019
We specify an equilibrium model of car ownership with private information where individuals sell and purchase new and second-hand cars over their life-cycle. Private information induces a transaction cost and distorts the market reducing the value of a car as a savings instrument. We estimate...
Persistent link: https://www.econbiz.de/10012265325
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Who gives and receives substantial financial transfers in Britain?
Boileau, Bee; Sturrock, David - 2023
We document key patterns in the flow of significant gifts and loans between friends and family in Great Britain, using newly-available data from the Wealth and Assets Survey. We identify a number of new stylised facts. Gifts and loans are generally intergenerational transfers: 83% of the value...
Persistent link: https://www.econbiz.de/10014480408
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What drives the timing of inter-vivos transfers?
Boileau, Bee; Sturrock, David - 2023
substantial intergenerational transfers help recipients to make consumption or investment decisions with a up-front fixed cost …
Persistent link: https://www.econbiz.de/10014480459
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Do consumers gamble to convexify?
Crossley, Thomas F.; Low, Hamish; Smith, Sarah - 2011
The combination of credit constraints and indivisible consumption goods may induce some riskaverse individuals to play …
Persistent link: https://www.econbiz.de/10010275746
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Heterogeneity in time preference in older households
Bozio, Antoine; Laroque, Guy; O'Dea, Cormac - 2013
general panel date on total consumption from the intertemporal budget constraint. The distribution of consumption levels is … shown to closely match that estimated using the UK's household budget survey. Consumption transitions over time are then …
Persistent link: https://www.econbiz.de/10010330991
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Household consumption through recent recessions
Crossley, Thomas F.; Low, Hamish; O'Dea, Cormac - 2011
This paper examines trends in household consumption and saving behaviour in each of the last three recessions in the UK …
Persistent link: https://www.econbiz.de/10010331050
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The effect of the financial crisis on older households in England
Banks, James; Crawford, Rowena; Crossley, Thomas; … - 2012
effect of wealth shocks on household consumption and individual expectations of the future. Many household experienced a …
Persistent link: https://www.econbiz.de/10010331053