Arbeitspapier
Housing and equity wealth effects of Italian households
The study quantifies stock market and housing market wealth effects on households' non-durable consumption using Italian household panel data (SHIW) of 1989-2002. We found all households react similarly to aggregate housing and stock market gains. We also found statistically and economically significant housing wealth effects with a marginal propensity to consume out of idiosyncratic housing wealth gains to be over 8 percent. The results from idiosyncratic equity wealth e¤ects were lower, at around 0.4 percent. We also found that older households react more to changes in housing wealth.
- Sprache
-
Englisch
- Erschienen in
-
Series: ECB Working Paper ; No. 857
- Klassifikation
-
Wirtschaft
Consumer Economics: Empirical Analysis
Macroeconomics: Consumption; Saving; Wealth
- Thema
-
Equities
housing
Marginal Propensity to Consume
Börsenkurs
Immobilienpreis
Vermögenseffekt
Konsumentenverhalten
Italien
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Grant, Charles
Peltonen, Tuomas A.
- Ereignis
-
Veröffentlichung
- (wer)
-
European Central Bank (ECB)
- (wo)
-
Frankfurt a. M.
- (wann)
-
2008
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:24 MESZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Grant, Charles
- Peltonen, Tuomas A.
- European Central Bank (ECB)
Entstanden
- 2008
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