Credit, housing collateral and consumption: evidence from the UK, Japan and the US
The consumption behaviour of UK, US and Japanese households is examined and compared using a modern Ando-Modigliani style consumption function. The models incorporate income growth expectations, income uncertainty, housing collateral and other credit effects. These models therefore capture importa...
| Autores principales: | , , |
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| Formato: | Working paper |
| Publicado: |
University of Oxford
2010
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