Booms and Busts
Consumption, House Prices and Expectations
Bibliographic Data
| ID | 9725225 |
|---|---|
| Authors | Orazio P Attanasio, Orazio Attanasio (0000-0003-3693-4393, Institute for Fiscal Studies), Laura Blow (Institute for Fiscal Studies), Robert Hamilton (0000-0003-3372-5561, Bank of England), Andrew Leicester (Institute for Fiscal Studies) |
| Year | 2009 |
| Volume | 76 |
| Issue | 301 |
| Pages | 20-50 |
| Publication date | 2009-02-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Economica (JOURNAL) |
| Journal identifiers | ISSN: 0013-0427 • E-ISSN: 1468-0335 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/j.1468-0335.2008.00708.x |
| OpenAlex | W2025168225 |
| Language | EN |
| Citations received | 40 |
| References cited | 12 |
Over much of the past 25 years, house price and consumption growth have been closely synchronized. Three main hypotheses for this have been proposed: increases in house prices raise household wealth and so their consumption; house price growth reduces credit constraints by increasing the collateral available to homeowners; and house prices and consumption are together influenced by common factors. Using microeconomic data, we find that the relationship between house prices and consumption is stronger for younger than older households, contradicting the wealth channel. We suggest that common causality has been the most important factor linking house prices and consumption
Autonomous consumption · Boom · Causality (physics) · Collateral · Consumer spending · Consumption (sociology) · Debt · Economics · House price · Macroeconomics · Monetary economics · Finance · Financial Literacy, Pension, Retirement Analysis · Housing Market and Economics · Housing, Finance, and Neoliberalism
Housing wealth and educational competition in urban China
The Effect of Liquid Housing Wealth on College Enrollment
Windfall gains and household consumption
Wealth Effects on Consumption Across the Wealth Distribution
House price expectations and household spending— A survey-based experiment
Wealth Effects on Consumption Plans
Housing prices and the subjective well-being of migrant workers
The effect of wealth effect and population aging on tourism expenditure
The accuracy of homeowners’ valuations in the twenty-first century
Sweating Assets
Identification of house price bubbles using robust methodology
The effect of housing prices on consumption and economic growth – the case of Taiwan
Housing wealth appreciation and consumption
Estimating Who Benefits from Productivity Growth
Do Family Wealth Shocks Affect Fertility Choices? Evidence from the Housing Market
Trickle-Down Consumption
The Impact of Rising Housing Rent on Residents’ Consumption and Its Underlying Mechanism
The intertemporal substitution effect of energy consumption under climate policy changes
Second homes in Italy
The Impact of House Prices on Consumption in South Africa
Housing wealth and consumption among elderly Japanese
How is housing purchase intention related to consumption? The role of market sentiment
Financial and Housing Wealth and Consumption Spending
Price anomalies and effectiveness of macro control policies
Bequest motives in the housing wealth effect
Homevalue misestimation and household leverage
How does housing price affect consumption in China
Do expectations of future wealth increase outbound tourism? Evidence from Korea
How do housing price and sentiment affect consumption distribution in China
From welfarism to entrepreneurialism
Housing wealth effect and tenure choice
Tightening belts to buy a home
House prices, housing wealth and financial well-being
Does home owning smooth the variability of future housing consumption
How Urban Households' Consumption Reflects Their Habits
The Impact of House Prices on Consumption in the UK
Housing Wealth Effects
Do House Prices Affect Consumption? A Re‐assessment of the Wealth Hypothesis
House Price Shocks and Household Indebtedness in the United Kingdom
Housing Wealth and Consumption
Panel data from time series of cross-sections
How do house prices affect consumption? Evidence from micro data
A Profitable Approach to Labor Supply and Commodity Demands over the Life-Cycle
Comparing Wealth Effects
House Prices and the Decision to Save for Down Payments
Stochastic Implications of the Life Cycle-Permanent Income Hypothesis
The UK Consumption Boom of the Late 1980s
| Unique citing works | 40 |
|---|---|
| Citations per year | 2,5 |
| Citation span | 2010 - 2026 (17) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 39 |