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Longitudinal Study: HILDA
Title: Housing Wealth Effects: Evidence from an Australian Panel
Authors: Windsor, Callan 
Finlay, Richard 
Jääskelä, Jarkko 
Publication Date: Jul-2015
Pages: 552–577
Keywords: household spending
credit conditions
wealth effects
House prices
Abstract: We explore the positive relationship between house prices and household spending by following a panel of Australian households. No evidence for ‘traditional housing wealth effects' is found, with young homeowners exhibiting the largest wealth effects. Young renters also exhibit a positive consumption response to house prices, although less so than young homeowners. This suggests that increasing house prices raise spending via easing credit constraints and a common association between house prices and a third factor. Results from a cohort-level panel are similar to those using household-level data, suggesting that ‘pseudo-panels' may be used as a partial substitute for actual panels.
DOI: 10.1111/ecca.12137
Keywords: Income & Finance -- Financial Management (inc Budgeting); Families -- Households; Income & Finance -- Wealth
Research collection: Journal Articles
Appears in Collections:Journal Articles

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