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The UK Consumption Boom of the Late 1980s: Aggregate Implications of Microeconomic Evidence

Citations

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Cited by:

  1. Zhechun He, 2015. "Estimating the Impact of House Prices on Household Labour Supply in the UK," Discussion Papers 15/19, Department of Economics, University of York.
  2. David Blake, 2004. "The impact of wealth on consumption and retirement behaviour in the UK," Applied Financial Economics, Taylor & Francis Journals, vol. 14(8), pages 555-576.
  3. Campbell, John Y. & Cocco, Joao F., 2007. "How do house prices affect consumption? Evidence from micro data," Journal of Monetary Economics, Elsevier, vol. 54(3), pages 591-621, April.
  4. Arns, Jürgen & Bhattacharya, Kaushik, 2005. "Modelling Aggregate Consumption Growth with Time-Varying Parameters," Bonn Econ Discussion Papers 15/2005, University of Bonn, Bonn Graduate School of Economics (BGSE).
  5. Pedro Trivin, 2022. "The wealth-consumption channel: evidence from a panel of Spanish households," Review of Economics of the Household, Springer, vol. 20(4), pages 1377-1428, December.
  6. Annalisa Cristini & Almudena Sevilla, 2014. "Do House Prices Affect Consumption? A Re-assessment of the Wealth Hypothesis," Economica, London School of Economics and Political Science, vol. 81(324), pages 601-625, October.
  7. Agnes Kovacs & May Rostom & Philip Bunn, 2018. "Consumption Response to Aggregate Shocks and the Role of Leverage," Discussion Papers 1820, Centre for Macroeconomics (CFM).
  8. Richard Blundell, 2009. "Assessing the Temporary VAT Cut Policy in the UK," Fiscal Studies, John Wiley & Sons, vol. 30(1), pages 31-38, March.
  9. Muellbauer, John & Aron, Janine & Duca, John V & Murata, Keiko & Murphy, Anthony, 2010. "Credit, Housing Collateral and Consumption: Evidence from the UK, Japan and the US," CEPR Discussion Papers 7876, C.E.P.R. Discussion Papers.
  10. Sule Alan & Thomas Crossley & Hamish Low, 2012. "Saving on a Rainy Day, Borrowing for a Rainy Day," Koç University-TUSIAD Economic Research Forum Working Papers 1212, Koc University-TUSIAD Economic Research Forum.
  11. Francesco Caloia & Mauro Mastrogiacomo, 2021. "The Housing Wealth Effect: a comparative study of Italy and the Netherlands," Working Papers 713, DNB.
  12. Renata Bottazzi & Serena Trucchi & Matthew Wakefield, 2013. "Wealth effects and the consumption of Italian households in the Great Recession," IFS Working Papers W13/21, Institute for Fiscal Studies.
  13. Henrik Yde Andersen & Søren Leth-Petersen, 2021. "Housing Wealth or Collateral: How Home Value Shocks Drive Home Equity Extraction and Spending," Journal of the European Economic Association, European Economic Association, vol. 19(1), pages 403-440.
  14. Ortalo-Magne, Francois & Rady, Sven, 1999. "Boom in, bust out: Young households and the housing price cycle," European Economic Review, Elsevier, vol. 43(4-6), pages 755-766, April.
  15. Orazio P. Attanasio & Guglielmo Weber, 2010. "Consumption and Saving: Models of Intertemporal Allocation and Their Implications for Public Policy," Journal of Economic Literature, American Economic Association, vol. 48(3), pages 693-751, September.
  16. Finlay Richard & Price Fiona, 2015. "Household saving in Australia," The B.E. Journal of Macroeconomics, De Gruyter, vol. 15(2), pages 677-704, July.
  17. Caporale, Guglielmo Maria & Williams, Geoffrey, 2001. "Monetary Policy and Financial Liberalization: The Case of United Kingdom Consumption," Journal of Macroeconomics, Elsevier, vol. 23(2), pages 177-197, April.
  18. Martin Browning & Thomas F. Crossley & Joachim Winter, 2014. "The Measurement of Household Consumption Expenditures," Annual Review of Economics, Annual Reviews, vol. 6(1), pages 475-501, August.
  19. Muellbauer, John & Murata, Keiko, 2009. "Consumption, Land Prices and the Monetary Transmission Mechanism in Japan," CEPR Discussion Papers 7269, C.E.P.R. Discussion Papers.
  20. Carlos Caceres, 2019. "Analyzing the Effects of Financial and Housing Wealth on Consumption using Micro Data," IMF Working Papers 2019/115, International Monetary Fund.
  21. Yvonne McCarthy & Kieran McQuinn, 2017. "Price Expectations, Distressed Mortgage Markets and the Housing Wealth Effect," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 45(2), pages 478-513, April.
  22. Disney, Richard & Henley, Andrew & Stears, Gary, 2002. "Housing costs, house price shocks and savings behaviour among older households in Britain," Regional Science and Urban Economics, Elsevier, vol. 32(5), pages 607-625, September.
  23. Atif Mian & Amir Sufi, 2011. "House Prices, Home Equity-Based Borrowing, and the US Household Leverage Crisis," American Economic Review, American Economic Association, vol. 101(5), pages 2132-2156, August.
  24. Lee, Seungyoon, 2023. "House prices, homeownership, and household consumption: Evidence from household panel data in Korea," Economic Modelling, Elsevier, vol. 126(C).
  25. Piazzesi, M. & Schneider, M., 2016. "Housing and Macroeconomics," Handbook of Macroeconomics, in: J. B. Taylor & Harald Uhlig (ed.), Handbook of Macroeconomics, edition 1, volume 2, chapter 0, pages 1547-1640, Elsevier.
  26. Eerola Essi & Määttänen Niku, 2012. "Borrowing Constraints and House Price Dynamics: The Case of Large Shocks," Studies in Nonlinear Dynamics & Econometrics, De Gruyter, vol. 16(3), pages 1-36, September.
  27. Hori Masahiro & Niizeki Takeshi, 2019. "Housing Wealth Effects in Japan: Evidence Based on Household Micro Data," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 19(2), pages 1-28, April.
  28. Balázs Égert & Dubravko Mihaljek, 2007. "Determinants of House Prices in Central and Eastern Europe," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 49(3), pages 367-388, September.
  29. Vivien Burrows, 2018. "The Impact of House Prices on Consumption in the UK: a New Perspective," Economica, London School of Economics and Political Science, vol. 85(337), pages 92-123, January.
  30. Haiyan Song & Peter Romilly & Xiaming Liu, 1998. "The UK consumption function and structural instability: improving forecasting performance using a time-varying parameter approach," Applied Economics, Taylor & Francis Journals, vol. 30(7), pages 975-983.
  31. Besley, Timothy & Meads, Neil & Surico, Paolo, 2008. "Household External Finance and Consumption," Discussion Papers 25, Monetary Policy Committee Unit, Bank of England.
  32. Luci Ellis & Laura Berger-Thomson, 2004. "Housing Construction Cycles and Interest Rates," Econometric Society 2004 Australasian Meetings 335, Econometric Society.
  33. John Muellbauer, 2012. "When is a Housing Market Overheated Enough to Threaten Stability?," RBA Annual Conference Volume (Discontinued), in: Alexandra Heath & Frank Packer & Callan Windsor (ed.),Property Markets and Financial Stability, Reserve Bank of Australia.
  34. Evren Ceritoglu, 2017. "The effect of house price changes on cohort consumption in Turkey," Central Bank Review, Research and Monetary Policy Department, Central Bank of the Republic of Turkey, vol. 17(3), pages 1-99–110.
  35. Geoffrey Meen & Alexander Mihailov & Yehui Wang, 2016. "Endogenous UK Housing Cycles and the Risk Premium: Understanding the Next Housing Crisis," Economics Discussion Papers em-dp2016-02, Department of Economics, University of Reading.
  36. Charles Grant & Raffaele Miniaci & Guglielmo Weber, 2002. "Changes in Consumption Behaviour: Italy in the Early 1990s," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 61(1), pages 61-101, June.
  37. Jacinta C. Nwachukwu, 2017. "Tenure and Spending Within UK Households at the End of the Recent Recession," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 133(3), pages 1075-1104, September.
  38. Attanasio, Orazio P., 1995. "The intertemporal allocation of consumption: theory and evidence," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 42(1), pages 39-56, June.
  39. Cristina Bernini & Maria Francesca Cracolici & Peter Nijkamp, 2020. "Micro and Macro Resilience Measures of an Economic Crisis," Networks and Spatial Economics, Springer, vol. 20(1), pages 47-71, March.
  40. Li, Cheng & Zhang, Ying, 2021. "How does housing wealth affect household consumption? Evidence from macro-data with special implications for China," China Economic Review, Elsevier, vol. 69(C).
  41. Waldron, Matt & Zampolli, Fabrizio, 2010. "Household debt, house prices and consumption in the United Kingdom: a quantitative theoretical analysis," Bank of England working papers 379, Bank of England.
  42. Hryshko, Dmytro & José Luengo-Prado, María & Sørensen, Bent E., 2010. "House prices and risk sharing," Journal of Monetary Economics, Elsevier, vol. 57(8), pages 975-987, November.
  43. Kajuth, Florian, 2010. "The role of liquidity constraints in the response of monetary policy to house prices," Journal of Financial Stability, Elsevier, vol. 6(4), pages 230-242, December.
  44. David Berger & Veronica Guerrieri & Guido Lorenzoni & Joseph Vavra, 2018. "House Prices and Consumer Spending," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 85(3), pages 1502-1542.
  45. Matteo Richiardi & Roberto Leombruni & Nicole J. Saam & Michele Sonnessa, 2006. "A Common Protocol for Agent-Based Social Simulation," Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 9(1), pages 1-15.
  46. Orazio P. Attanasio, 1998. "Consumption Demand," NBER Working Papers 6466, National Bureau of Economic Research, Inc.
  47. Chen, Chien-Liang & Kuan, Chung-Ming & Lin, Chu-Chia, 2007. "Saving and housing of Taiwanese households: New evidence from quantile regression analyses," Journal of Housing Economics, Elsevier, vol. 16(2), pages 102-126, June.
  48. Anita Ratcliffe, 2010. "Housing wealth or economic climate: Why do house prices matter for well-being?," The Centre for Market and Public Organisation 10/234, The Centre for Market and Public Organisation, University of Bristol, UK.
  49. Kadir Atalay & Stephen Whelan & Judith Yates, 2016. "House Prices, Wealth and Consumption: New Evidence from Australia and Canada," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 62(1), pages 69-91, March.
  50. repec:onb:oenbwp:y:2007:i:1:b:1 is not listed on IDEAS
  51. Bordo, Michael D. & Meissner, Christopher M., 2012. "Does inequality lead to a financial crisis?," Journal of International Money and Finance, Elsevier, vol. 31(8), pages 2147-2161.
  52. Guy Debelle, 2004. "Macroeconomic implications of rising household debt," BIS Working Papers 153, Bank for International Settlements.
  53. Ryan Chahrour & Gaetano Gaballo, 2021. "Learning from House Prices: Amplification and Business Fluctuations [House Price Booms and the Current Account]," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 88(4), pages 1720-1759.
  54. Renata Bottazzi & Serena Trucchi & Matthew Wakefield, 2020. "Consumption Responses to a Large Shock to Financial Wealth: Evidence from Italy," Scandinavian Journal of Economics, Wiley Blackwell, vol. 122(2), pages 762-789, April.
  55. Bernini, Cristina & Cracolici, Maria Francesca, 2015. "Demographic change, tourism expenditure and life cycle behaviour," Tourism Management, Elsevier, vol. 47(C), pages 191-205.
  56. G. C. Lim & Q. Zeng, 2016. "Consumption, Income, and Wealth: Evidence from Age, Cohort, and Period Elasticities," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 62(3), pages 489-508, September.
  57. Nancy van Beers & Michiel Bijlsma & Remco Mocking, 2015. "House Price Shocks and Household Savings: evidence from Dutch administrative data," CPB Discussion Paper 299, CPB Netherlands Bureau for Economic Policy Analysis.
  58. Suari-Andreu, Eduard, 2021. "Housing and household consumption: An investigation of the wealth and collateral effects," Journal of Housing Economics, Elsevier, vol. 54(C).
  59. Francesco G. Caloia & Mauro Mastrogiacomo, 2022. "The housing wealth effect: The role of renovations and home improvements," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(6), pages 1532-1547, November.
  60. Daichun Yi & Xiaoying Deng & Gang-Zhi Fan & Seow Eng Ong, 2018. "House Price and co-Residence with Older Parents: Evidence from China," The Journal of Real Estate Finance and Economics, Springer, vol. 57(3), pages 502-533, October.
  61. David M. Williams, 2010. "Consumption, wealth and credit liberalisation in Australia," Economics Series Working Papers 492, University of Oxford, Department of Economics.
  62. Orazio Attanasio & Renata Bottazzi & Hamish Low & Lars Nesheim & Matthew Wakefield, 2012. "Modelling the Demand for Housing over the Lifecycle," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 15(1), pages 1-18, January.
  63. Søren Leth-Petersen, 2010. "Intertemporal Consumption and Credit Constraints: Does Total Expenditure Respond to an Exogenous Shock to Credit?," American Economic Review, American Economic Association, vol. 100(3), pages 1080-1103, June.
  64. Aditya Aladangady, 2014. "Homeowner Balance Sheets and Monetary Policy," Finance and Economics Discussion Series 2014-98, Board of Governors of the Federal Reserve System (U.S.).
  65. Niizeki, Takeshi & Suga, Fumihiko, 2021. "The impact of the rise and collapse of Japan's housing price bubble on households’ lifetime utility," Journal of the Japanese and International Economies, Elsevier, vol. 60(C).
  66. Nancy van Beers & Michiel Bijlsma & Remco Mocking, 2015. "House Price Shocks and Household Savings: evidence from Dutch administrative data," CPB Discussion Paper 299.rdf, CPB Netherlands Bureau for Economic Policy Analysis.
  67. Callan Windsor & Jarkko Jääskelä & Richard Finlay, 2013. "Home Prices and Household Spending," RBA Research Discussion Papers rdp2013-04, Reserve Bank of Australia.
  68. Laura Blow & Lars Nesheim, 2009. "Dynamic housing expenditures and household welfare," CeMMAP working papers CWP04/09, Centre for Microdata Methods and Practice, Institute for Fiscal Studies.
  69. William Elming & Andreas Ermler, 2016. "Housing equity, saving and debt dynamics over the Great Recession," IFS Working Papers W16/12, Institute for Fiscal Studies.
  70. Mairead Roiste & Apostolos Fasianos & Robert Kirkby & Fang Yao, 2021. "Are Housing Wealth Effects Asymmetric in Booms and Busts?," The Journal of Real Estate Finance and Economics, Springer, vol. 62(4), pages 578-628, May.
  71. Andersen, Henrik Yde, 2018. "Do tax incentives for saving in pension accounts cause debt accumulation? Evidence from Danish register data," European Economic Review, Elsevier, vol. 106(C), pages 35-53.
  72. Kim, Byung-Yeon, 2003. "Informal economy activities of Soviet households: size and dynamics," Journal of Comparative Economics, Elsevier, vol. 31(3), pages 532-551, September.
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