House Prices, Personal Sector Wealth and Consumption: Some Conceptual and Empirical Issues
AbstractThis paper analyzes the impact of changes in the real price of houses upon the level of wealth and the rate of consumption of the personal sector. A theoretical framework is developed to assess under what conditions the real net worth of agents is increased by unanticipated house price inflation. Long-term trends in the value of the U.K. housing stock and in the excess returns to housing wealth are measured. The implications of the results for policy and for economic modeling are discussed. Copyright 1993 by Blackwell Publishers Ltd and The Victoria University of Manchester
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoArticle provided by University of Manchester in its journal The Manchester School of Economic & Social Studies.
Volume (Year): 61 (1993)
Issue (Month): 0 (Suppl.)
Contact details of provider:
Postal: Manchester M13 9PL
Phone: (0)161 275 4868
Fax: (0)161 275 4812
Web page: http://www.socialsciences.manchester.ac.uk/disciplines/economics/
More information through EDIRC
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Jonathan Skinner, 1990.
"The Dynamic Efficiency Cost of Not taxing Housing,"
NBER Working Papers
3454, National Bureau of Economic Research, Inc.
- Englund, Peter & Ioannides, Yannis M., 1997.
"House Price Dynamics: An International Empirical Perspective,"
Journal of Housing Economics,
Elsevier, vol. 6(2), pages 119-136, June.
- Englund, P. & Ioannides, Y.M., 1996. "House Price Dynamics: An International Empirical Perspective," Papers 1996-01, Uppsala - Working Paper Series.
- Pain, Nigel & Westaway, Peter, 1997.
"Modelling structural change in the UK housing market: A comparison of alternative house price models,"
Elsevier, vol. 14(4), pages 587-610, October.
- Nigel Pain and Peter Westaway, 1996. "Modelling Structural Change In The UK Housing Market: A Comparison Of Alternative House Price Models," NIESR Discussion Papers 98, National Institute of Economic and Social Research.
- Catarina Figueira & John Glen & Joseph Nellis, 2005. "A Dynamic Analysis of Mortgage Arrears in the UK Housing Market," Urban/Regional 0509006, EconWPA.
- Gurdgiev, Constantin T., 2006. "Owner-occupied housing in a model of exchange rate determination," Journal of Housing Economics, Elsevier, vol. 15(3), pages 217-229, September.
- Antipa, P. & Schalck, C., 2009. "Impact of Fiscal Policy on Residential Investment in France," Working papers 270, Banque de France.
- David Begg & Stephany Griffith-Jones, 1998. "Swinging since the 60's: Fluctuations in UK Saving and Lessons for Latin America," Research Department Publications 3032, Inter-American Development Bank, Research Department.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.