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Displaying results 1 to 9 of 9.

  1. Housing value and consumption in Europe: micro-findings from post-financial crisis data
    Author: Bielskis, Karolis
    Published: July 2022
    Publisher:  Lietuvos Bankas, Vilnius

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 550
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working papers series / Lietuvos Bankas ; No.2022,106
    Subjects: Housing Wealth; House Prices; Household Consumption
    Scope: 1 Online-Ressource (circa 30 Seiten), Illustrationen
  2. Objectified housing sales and rent prices in representative household surveys
    the impact on macroeconomic statistics
    Author: Naidin, M. Denisa; Waltl, Sofie; Ziegelmeyer, Michael H.
    Published: June 2022
    Publisher:  Banque centrale du Luxembourg, Luxembourg

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 599
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working paper / Banque centrale du Luxembourg ; no 160
    Subjects: Macroeconomic Statistics; Subjective Assessments; Surveys; Measurement Errors; Housing and Rent Markets; Housing Wealth; Affordability
    Scope: 1 Online-Ressource (circa 60 Seiten), Illustrationen
  3. The housing net worth channel and the public finances
    evidence from a European country panel
    Author: Cronin, David; McQuinn, Kieran
    Published: July 21, 2022
    Publisher:  ESRI, Dublin

    In the growing literature on the importance of household balance sheets to macroeconomic developments, the relationship between housing wealth and fiscal outturns needs consideration given the likely links between housing market developments and... more

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 176
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    In the growing literature on the importance of household balance sheets to macroeconomic developments, the relationship between housing wealth and fiscal outturns needs consideration given the likely links between housing market developments and particular tax headings. We adopt the housing net worth model for this purpose. Using a panel dataset of 18 European countries over the period 1998 to 2017, we find changes in housing net worth having a significant impact on the primary budget balance, with increases (decreases) in housing net worth causing the budget balance to improve (dis-improve). Further support for the importance of this channel to the public finances arises by differentiating observations based on the amount of revenue raised under particular tax headings.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/272958
    Series: ESRI working paper ; no. 730 (July 2022)
    Subjects: Housing Wealth; House Prices; Government Budget Balance
    Scope: 1 Online-Ressource (circa 20 Seiten), Illustrationen
  4. Das House Kapital
    Author: Grossmann, Volker; Larin, Benjamin; Steger, Thomas M.
    Published: 2021
    Publisher:  University of Fribourg, Switzerland, Faculty of Economics and Social Sciences, Fribourg

    The housing wealth-to-income ratio has been increasing in most developed economies since the 1950s. We provide a novel theory to explain this long-term pattern. We show analytically that house prices grow in the steady state if i) the housing sector... more

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VS 263
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    The housing wealth-to-income ratio has been increasing in most developed economies since the 1950s. We provide a novel theory to explain this long-term pattern. We show analytically that house prices grow in the steady state if i) the housing sector is more land-intensive than the non-housing sector, or ii) technological progress in the construction sector is weaker than in the non-housing sector. Despite growing house prices and housing wealth, the housing wealth-to income ratio is constant in steady state. We hence study the dynamics in the housing wealth-to- income ratio by computing transitions. The model is calibrated separately to the US, UK, France, and Germany. On average, we replicate 89 percent of the observed increase in the housing wealth-to-income ratio. The key for replicating the data is the differentiation between residential land as a non-reproducible factor and residential structure as reproducible factor. The transition process from the calibrated model points to two driving forces of an increasing housing wealth-to-income ratio: i) A long- lasting construction boom that brought about a pronounced build-up in the stock of structures and ii) an increase in the demand for residential land that resulted in surging residential land prices.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working papers SES / Université de Fribourg, Faculté des sciences economiques et sociales ; n. 523 (3.2021)
    Subjects: Housing Wealth; Economic Growth; Wealth-to-Income Ratio; House Price; Land Price
    Scope: 1 Online-Ressource (circa 69 Seiten), Illustrationen
  5. Labor supply response to house price shocks
    evidence from Japan
    Author: Hamaaki, Junya; Iwata, Shinichiro
    Published: 29 September, 2023
    Publisher:  Panel Data Research Center, Keio University, Tokyo, Japan

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Keine Rechte
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: PDRC discussion paper series ; DP2023, 001 (29 September, 2023)
    Subjects: Elderly; Housing Wealth; Labor Force Participation; Labor Hours; Japan
    Scope: 1 Online-Ressource (circa 35 Seiten), Illustrationen
  6. The geography of consumption and local economic shocks
    the case of the Great Recession
    Author: Dunn, Abe; Gholizadeh, Mahsa
    Published: January 2023
    Publisher:  U.S. Department of Commerce, Bureau of Economic Analysis, Washington, DC

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: BEA working paper series ; WP2023, 1
    Subjects: Spending Flows; Housing Wealth; the Great Recession
    Scope: 1 Online-Ressource (circa 95 Seiten), Illustrationen
  7. Baby boomer retirement security: the roles of planning, financial literacy and housing wealth
    Author: Lusardi, Annamaria; Mitchell, Olivia S.
    Published: 2006
    Publisher:  Univ.-Bibliothek Frankfurt am Main, Frankfurt am Main

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
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    Series: Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2006,20
    Subjects: Altersversorgung; Sparförderung; Grundstück; Mietwohngrundstück; Privatgrundstück; Planung; Anlageverhalten; :z Geschichte 1992-2004
    Other subjects: (stw)1992-2004; (stw)Altersvorsorge; (stw)Sparförderung; (stw)Immobilien; (stw)Planung; (stw)Anlageverhalten; (stw)USA; Wealth Holdings; Housing Wealth; Lack of Planning; Literacy; Cohorts; Arbeitspapier; Graue Literatur
    Scope: Online-Ressource
  8. How large is the housing wealth effect? - a new approach
    [November 12, 2006]
    Author: Carroll, Chris; Otsuka, Misuzu; Slacalek, Jirka
    Published: 2006
    Publisher:  Univ.-Bibliothek Frankfurt am Main, Frankfurt am Main

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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
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    Series: Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2006,35
    Subjects: Grundstück; Mietwohngrundstück; Privatgrundstück; Eigentum; Realkasseneffekt; Vermögenseffekte des Geldes; Privater Verbrauch; :z Geschichte 1960-2005; USA; Verbrauch; Unbewegliche Sache
    Other subjects: (stw)1960-2005; (stw)Immobilien; (stw)Eigentum; (stw)Vermögenseffekt; (stw)Privater Konsum; (stw)USA; Housing Wealth; Wealth Effect; Consumption Dynamics; Asset Price Bubbles; Arbeitspapier; Graue Literatur
    Scope: Online-Ressource
  9. How do banking crises affect aggregate consumption?
    evidence from international crisis episodes
    Author: Gerlach-Kristen, Petra; O'Connell, Brian; O’Toole, Conor
    Published: 2013
    Publisher:  ESRI, [Dublin]

    This paper considers the effect of systemic financial crises on aggregate consumption. Using a sample of 23 countries over 32 years, we find that consumption growth seems lower during banking crises, crises following credit booms and crises following... more

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 176 (464)
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    This paper considers the effect of systemic financial crises on aggregate consumption. Using a sample of 23 countries over 32 years, we find that consumption growth seems lower during banking crises, crises following credit booms and crises following house price booms. Moreover, the response to income growth seems to change, which may be due to credit constraints. In the long run, consumption appears to be linked to income, housing and other financial wealth.

     
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/100200
    Series: ESRI working paper ; 464
    Subjects: Financial Crises; Consumption; Housing Wealth; Panel Error Correction Model; Weak Exogeneity
    Scope: Online-Ressource (34 S.), graph. Darst.