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Housing and Equity Wealth Effects of Italian Households

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  • Charles Grant
  • Tuomas Peltonen

Abstract

The study quantifies stock market and housing market wealth effects on households' non-durable consumption using Italian household panel data (SHIW) of 1989-2002. We found, averaging over all households, both statistically and economically insignificant housing wealth effects. However, we found homeowners' MPC out of housing wealth gains to be The study quantifies stock market and housing market wealth effects on households' non-durable consumption using Italian household panel data (SHIW) of 1989-2002. We found, averaging over all households, both statistically and economically insignificant housing wealth effects. However, we found homeowners' MPC out of housing wealth gains to be The study quantifies stock market and housing market wealth effects on households' non-durable consumption using Italian household panel data (SHIW) of 1989-2002. We found, averaging over all households, both statistically and economically insignificant housing wealth effects. However, we found homeowners' MPC out of housing wealth gains to be

Suggested Citation

  • Charles Grant & Tuomas Peltonen, 2005. "Housing and Equity Wealth Effects of Italian Households," DNB Working Papers 043, Netherlands Central Bank, Research Department.
  • Handle: RePEc:dnb:dnbwpp:043
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    File URL: https://www.dnb.nl/binaries/Working%20Paper%2043_tcm46-146700.pdf
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    References listed on IDEAS

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    Cited by:

    1. Atalay, Kadir & Whelan, Stephen & Yates, Judith, 2013. "Housing Wealth and Household Consumption: New Evidence from Australia and Canada," Working Papers 2013-04, University of Sydney, School of Economics.
    2. Bhupal Singh, 2012. "How important is the stock market wealth effect on consumption in India?," Empirical Economics, Springer, vol. 42(3), pages 915-927, June.
    3. Eva Sierminska & Yelena Takhtamanova, 2007. "Wealth effects out of financial and housing wealth: cross country and age group comparisons," Working Paper Series 2007-01, Federal Reserve Bank of San Francisco.
    4. repec:bdi:opques:qef_146_01 is not listed on IDEAS
    5. Olympia Bover, 2005. "Wealth effects on consumption: microeconometric estimates from the Spanish survey of household finances," Working Papers 0522, Banco de EspaƱa;Working Papers Homepage.
    6. Bover, Olympia, 2006. "Wealth Effects on Consumption: Microeconometric Estimates from a New Survey of Household Finances," CEPR Discussion Papers 5874, C.E.P.R. Discussion Papers.
    7. Andrea Neri & Maria Teresa Monteduro, 2013. "The housing wealth of Italian households: a comparison of administrative and survey data," Questioni di Economia e Finanza (Occasional Papers) 146, Bank of Italy, Economic Research and International Relations Area.

    More about this item

    Keywords

    Wealth Effect; Consumption; MPC; Housing; Equities; SHIW;

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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