This paper draws on six waves of Japanese household longitudinal data (Keio Household Panel Survey, KHPS) and estimates a conditional fixed effects logit model to investigate the effects of housing equity constraints and income shocks on own-to-own residential moves in Japan. By looking at...

This paper draws on six waves of Japanese household longitudinal data (Keio Household Panel Survey, KHPS) and estimates a conditional fixed effects logit model to investigate the effects of housing equity constraints and income shocks on own-to-own residential moves in Japan. By looking at...

This paper examines the impact of changes in household wealth on homeowners' consumption behavior using recent panel data of Japanese households. For an average household, we find the elasticity of consumption spending with respect to household wealth to be roughly 1.0% for housing and 1.8% for...