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What Drives Personal Consumption? The Role of Housing and Financial Wealth
16 references·6 citing·35 second hop
What Drives Personal Consumption? The Role of Housing and Financial Wealth (2009)What Drives Personal Consumption? The Rol…How do house prices affect consumption? Evidence from micro data (2006)How do house prices affect co…Housing Collateral, Consumption Insurance, and Risk Premia: An Empirical Perspective (2005)Housing Collateral, Consumpti…Comparing Wealth Effects: The Stock Market versus the Housing Market (2005)Comparing Wealth Effects: The…Portfolio Choice in the Presence of Housing (2004)Portfolio Choice in the Prese…PANEL COINTEGRATION: ASYMPTOTIC AND FINITE SAMPLE PROPERTIES OF POOLED TIME SERIES TESTS WITH AN APPLICATION TO THE PPP HYPOTHESIS (2004)PANEL COINTEGRATION: ASYMPTOT…Industry Growth and Capital Allocation: Does Having a Market- or Bank-Based System Matter? (2002)Industry Growth and Capital A…Bank-Based or Market-Based Financial Systems: Which Is Better? (2002)Bank-Based or Market-Based Fi…Saving and Growth with Habit Formation (2000)Saving and Growth with Habit …Habit Formation in Consumption and Its Implications for Monetary-Policy Models (2000)Habit Formation in Consumptio…By Force of Habit: A Consumption‐Based Explanation of Aggregate Stock Market Behavior (1999)By Force of Habit: A Consumpt…A Note with Quantiles of the Asymptotic Distribution of the Maximum Likelihood Cointegration Rank Test Statistics1 (1992)A Note with Quantiles of the …Asymptotic Properties of Residual Based Tests for Cointegration (1990)Asymptotic Properties of Resi…Consumption, Income, and Interest Rates: Reinterpreting the Time Series Evidence (1989)Consumption, Income, and Inte…The Adjustment of Consumption to Changing Expectations About Future Income (1981)The Adjustment of Consumption…Intertemporal Substitution in Consumption (1981)Intertemporal Substitution in…Stochastic Implications of the Life Cycle-Permanent Income Hypothesis: Theory and Evidence (1978)Stochastic Implications of th…Asset Prices and Macroeconomic Outcomes: A Survey (2017)Asset Prices and Macroeconomi…Wealth Effects on Consumption Across the Wealth Distribution: Empirical Evidence (2015)Wealth Effects on Consumption…Household Decisions, Credit Markets and the Macroeconomy: Implications for the Design of Central Bank Models (2010)Household Decisions, Credit M…Explaining Household Saving Rates in G7 Countries (2010)Explaining Household Saving R…House Prices and Economic Growth (2009)House Prices and Economic Gro…Global imbalances and household savings: The role of wealth (2009)Global imbalances and househo…A Theory of the Consumption Function (1958)THE LIFE CYCLE HYPOTHESIS OF SAVING: AGGREGATE IMPLICATIONS AND TESTS (1963)No news is good news (1992)Capital markets research in accounting (2001)Consumption, Aggregate Wealth, and Expected Stock Returns (2001)Statistical analysis of cointegration vectors (1988)MAXIMUM LIKELIHOOD ESTIMATION AND INFERENCE ON COINTEGRATION — WITH APPLICATIONS TO THE DEMAND FOR MONEY (1990)Estimation and Hypothesis Testing of Cointegration Vectors in Gaussian Vector Autoregressive Models (1991)Error‐correction Mechanism Tests for Cointegration in a Single‐equation Framework (1998)Introductory Econometrics for Finance (2008)Testing for a Unit Root in Time Series Regression (1988)Testing for unit roots in heterogeneous panels (2003)Econometric policy evaluation: A critique (1976)Discretion versus policy rules in practice (1993)Habit Persistence, Asset Returns, and the Business Cycle (2001)Testing for Indeterminacy: An Application to U.S. Monetary Policy (2004)An Estimated Dynamic Stochastic General Equilibrium Model of the Euro Area (2010)LIFETIME PORTFOLIO SELECTION BY DYNAMIC STOCHASTIC PROGRAMMING (1975)An Optimization-Based Econometric Framework for the Evaluation of Monetary Policy (1997)The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks (2010)The Cost of Capital, Corporation Finance and the Theory of Investment (1958)Legal Determinants of External Finance (1997)Law and Finance (1998)Government Ownership of Banks (2002)Law, finance, and economic growth in China (2005)What matters for financial development? Capital controls, institutions, and interactions (2005)Trends and random walks in macroeconmic time series (1982)The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis (1989)Spurious regression and residual-based tests for cointegration in panel data (1999)Testing for Error Correction in Panel Data* (2007)The Dividend-Price Ratio and Expectations of Future Dividends and Discount Factors (1986)Habit Formation: A Resolution of the Equity Premium Puzzle (1990)Risks for the Long Run: A Potential Resolution of Asset Pricing Puzzles (2000)Investor Psychology and Security Market Under‐ and Overreactions (1998)Relative Income, Happiness, and Utility: An Explanation for the Easterlin Paradox and Other Puzzles (2008)
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References

  • 2004PANEL COINTEGRATION: ASYMPTOTIC AND FINITE SAMPLE PROPERTIES OF POOLED TIME SERIES TESTS WITH AN APPLICATION TO THE PPP HYPOTHESIS6,696 cited
  • 1999By Force of Habit: A Consumption‐Based Explanation of Aggregate Stock Market Behavior5,088 cited
  • 1978Stochastic Implications of the Life Cycle-Permanent Income Hypothesis: Theory and Evidence3,581 cited
  • 1992A Note with Quantiles of the Asymptotic Distribution of the Maximum Likelihood Cointegration Rank Test Statistics12,570 cited
  • 1990Asymptotic Properties of Residual Based Tests for Cointegration1,980 cited
  • 1989Consumption, Income, and Interest Rates: Reinterpreting the Time Series Evidence1,820 cited
  • 2002Bank-Based or Market-Based Financial Systems: Which Is Better?1,502 cited
  • 1981Intertemporal Substitution in Consumption1,397 cited
  • 1981The Adjustment of Consumption to Changing Expectations About Future Income1,326 cited
  • 2000Habit Formation in Consumption and Its Implications for Monetary-Policy Models1,148 cited
  • 2005Comparing Wealth Effects: The Stock Market versus the Housing Market1,109 cited
  • 2006How do house prices affect consumption? Evidence from micro data1,065 cited
  • 2004Portfolio Choice in the Presence of Housing1,004 cited
  • 2002Industry Growth and Capital Allocation: Does Having a Market- or Bank-Based System Matter?

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832 cited
  • 2000Saving and Growth with Habit Formation712 cited
  • 2005Housing Collateral, Consumption Insurance, and Risk Premia: An Empirical Perspective637 cited
  • Cited by

    • 2009House Prices and Economic Growth136 cited
    • 2010Household Decisions, Credit Markets and the Macroeconomy: Implications for the Design of Central Bank Models45 cited
    • 2010Explaining Household Saving Rates in G7 Countries44 cited
    • 2017Asset Prices and Macroeconomic Outcomes: A Survey40 cited
    • 2015Wealth Effects on Consumption Across the Wealth Distribution: Empirical Evidence30 cited
    • 2009Global imbalances and household savings: The role of wealth30 cited