کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
962890 | 930165 | 2006 | 28 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Re-evaluating the association between housing wealth and aggregate consumption: New evidence from Sweden
دانلود مقاله + سفارش ترجمه
دانلود مقاله ISI انگلیسی
رایگان برای ایرانیان
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
![عکس صفحه اول مقاله: Re-evaluating the association between housing wealth and aggregate consumption: New evidence from Sweden Re-evaluating the association between housing wealth and aggregate consumption: New evidence from Sweden](/preview/png/962890.png)
چکیده انگلیسی
This paper extends the VECM cointegration model and PT (permanent-transitory) variance decomposition framework proposed by Lettau and Ludvigson [Lettau, M., Ludvigson, S.C., 2004. Understanding trend and cycle in asset values: reevaluating the wealth effect on consumption. American Economic Review 94 (1), 276-299.] and applies them to Swedish data from 1980q1 to 2004q4. There is strong statistical evidence that the long run movements of aggregate consumption, disposable income, housing wealth, and financial wealth are tied together. However, the evidence also suggests that short run variations in the Swedish housing market are largely dissociated with consumer spending. Meanwhile, it is shown that the strength of the linkage between consumption and housing wealth is not sensitive to different model specifications and various measures of key variables.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Housing Economics - Volume 15, Issue 4, December 2006, Pages 321-348
Journal: Journal of Housing Economics - Volume 15, Issue 4, December 2006, Pages 321-348
نویسندگان
Jie Chen,