Credit, Housing Collateral, and Consumption: Evidence from Japan, the UK, and the US.
The consumption behavior of U.K., U.S., 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 impo...
| Main Authors: | , , , , |
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| Format: | Journal article |
| Language: | English |
| Published: |
Blackwell Publishing
2012
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