The impact of house price movements on non-durable goods consumption of older households

TitleThe impact of house price movements on non-durable goods consumption of older households
Publication TypeJournal Article
Year of Publication2013
AuthorsJiang, S, Sun, W, Webb, A
JournalAnnals of Economics and Finance
Volume14
Issue2
Pagination491-510
KeywordsNet Worth and Assets
Abstract

Using Health and Retirement Study (HRS) data, we create a new, up-to-date panel dataset to investigate the impact of house price movements on the non-durable goods consumption of older households. We find that older homeowners respond asymmetrically when experiencing house price gains and house price losses. More specifically, they increase total non-durable goods expenditure when house prices appreciate, but fail to reduce consumption when house prices fall.
Notes

Export Date: 24 September 2013 Source: Scopus
URLhttp://www.scopus.com/inward/record.url?eid=2-s2.0-84874026500andpartnerID=40andmd5=9b24de128cf6ceeaf4346ecc7151389a
Endnote Keywords

House price fluctuations/Household consumption/Asset accumulation
Endnote ID

69150
Citation Key7858