Housing wealth, credit conditions and consumption
There is widespread disagreement about the role of housing wealth in explaining consumption. Much of the empirical literature is marred by poor controls for the common drivers both of house prices and consumption, including income, income growth expectations, interest rates, credit supply conditions...
| Main Authors: | , |
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| Format: | Working paper |
| Language: | English |
| Published: |
2006
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| Subjects: |