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  1. Das House Kapital
    Autor*in: Grossmann, Volker; Larin, Benjamin; Steger, Thomas M.
    Erschienen: 2021
    Verlag:  University of Fribourg, Switzerland, Faculty of Economics and Social Sciences, Fribourg

    The housing wealth-to-income ratio has been increasing in most developed economies since the 1950s. We provide a novel theory to explain this long-term pattern. We show analytically that house prices grow in the steady state if i) the housing sector... mehr

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    VS 263
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    The housing wealth-to-income ratio has been increasing in most developed economies since the 1950s. We provide a novel theory to explain this long-term pattern. We show analytically that house prices grow in the steady state if i) the housing sector is more land-intensive than the non-housing sector, or ii) technological progress in the construction sector is weaker than in the non-housing sector. Despite growing house prices and housing wealth, the housing wealth-to income ratio is constant in steady state. We hence study the dynamics in the housing wealth-to- income ratio by computing transitions. The model is calibrated separately to the US, UK, France, and Germany. On average, we replicate 89 percent of the observed increase in the housing wealth-to-income ratio. The key for replicating the data is the differentiation between residential land as a non-reproducible factor and residential structure as reproducible factor. The transition process from the calibrated model points to two driving forces of an increasing housing wealth-to-income ratio: i) A long- lasting construction boom that brought about a pronounced build-up in the stock of structures and ii) an increase in the demand for residential land that resulted in surging residential land prices.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Working papers SES / Université de Fribourg, Faculté des sciences economiques et sociales ; n. 523 (3.2021)
    Schlagworte: Housing Wealth; Economic Growth; Wealth-to-Income Ratio; House Price; Land Price
    Umfang: 1 Online-Ressource (circa 69 Seiten), Illustrationen
  2. How large is the housing wealth effect? - a new approach
    [November 12, 2006]
    Autor*in: Carroll, Chris; Otsuka, Misuzu; Slacalek, Jirka
    Erschienen: 2006
    Verlag:  Univ.-Bibliothek Frankfurt am Main, Frankfurt am Main

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    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
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    Schriftenreihe: Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2006,35
    Schlagworte: Grundstück; Mietwohngrundstück; Privatgrundstück; Eigentum; Realkasseneffekt; Vermögenseffekte des Geldes; Privater Verbrauch; :z Geschichte 1960-2005; USA; Verbrauch; Unbewegliche Sache
    Weitere Schlagworte: (stw)1960-2005; (stw)Immobilien; (stw)Eigentum; (stw)Vermögenseffekt; (stw)Privater Konsum; (stw)USA; Housing Wealth; Wealth Effect; Consumption Dynamics; Asset Price Bubbles; Arbeitspapier; Graue Literatur
    Umfang: Online-Ressource
  3. Baby boomer retirement security: the roles of planning, financial literacy and housing wealth
    Autor*in: Lusardi, Annamaria; Mitchell, Olivia S.
    Erschienen: 2006
    Verlag:  Univ.-Bibliothek Frankfurt am Main, Frankfurt am Main

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    Sprache: Englisch
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    Schriftenreihe: Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2006,20
    Schlagworte: Altersversorgung; Sparförderung; Grundstück; Mietwohngrundstück; Privatgrundstück; Planung; Anlageverhalten; :z Geschichte 1992-2004
    Weitere Schlagworte: (stw)1992-2004; (stw)Altersvorsorge; (stw)Sparförderung; (stw)Immobilien; (stw)Planung; (stw)Anlageverhalten; (stw)USA; Wealth Holdings; Housing Wealth; Lack of Planning; Literacy; Cohorts; Arbeitspapier; Graue Literatur
    Umfang: Online-Ressource
  4. The geography of consumption and local economic shocks
    the case of the Great Recession
    Autor*in: Dunn, Abe; Gholizadeh, Mahsa
    Erschienen: January 2023
    Verlag:  U.S. Department of Commerce, Bureau of Economic Analysis, Washington, DC

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: BEA working paper series ; WP2023, 1
    Schlagworte: Spending Flows; Housing Wealth; the Great Recession
    Umfang: 1 Online-Ressource (circa 95 Seiten), Illustrationen
  5. Objectified housing sales and rent prices in representative household surveys
    the impact on macroeconomic statistics
    Autor*in: Naidin, M. Denisa; Waltl, Sofie; Ziegelmeyer, Michael H.
    Erschienen: June 2022
    Verlag:  Banque centrale du Luxembourg, Luxembourg

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    VS 599
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    Format: Online
    Schriftenreihe: Working paper / Banque centrale du Luxembourg ; no 160
    Schlagworte: Macroeconomic Statistics; Subjective Assessments; Surveys; Measurement Errors; Housing and Rent Markets; Housing Wealth; Affordability
    Umfang: 1 Online-Ressource (circa 60 Seiten), Illustrationen
  6. Housing value and consumption in Europe: micro-findings from post-financial crisis data
    Autor*in: Bielskis, Karolis
    Erschienen: July 2022
    Verlag:  Lietuvos Bankas, Vilnius

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    VS 550
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    Sprache: Englisch
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    Schriftenreihe: Working papers series / Lietuvos Bankas ; No.2022,106
    Schlagworte: Housing Wealth; House Prices; Household Consumption
    Umfang: 1 Online-Ressource (circa 30 Seiten), Illustrationen
  7. The housing net worth channel and the public finances
    evidence from a European country panel
    Autor*in: Cronin, David; McQuinn, Kieran
    Erschienen: July 21, 2022
    Verlag:  ESRI, Dublin

    In the growing literature on the importance of household balance sheets to macroeconomic developments, the relationship between housing wealth and fiscal outturns needs consideration given the likely links between housing market developments and... mehr

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 176
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    In the growing literature on the importance of household balance sheets to macroeconomic developments, the relationship between housing wealth and fiscal outturns needs consideration given the likely links between housing market developments and particular tax headings. We adopt the housing net worth model for this purpose. Using a panel dataset of 18 European countries over the period 1998 to 2017, we find changes in housing net worth having a significant impact on the primary budget balance, with increases (decreases) in housing net worth causing the budget balance to improve (dis-improve). Further support for the importance of this channel to the public finances arises by differentiating observations based on the amount of revenue raised under particular tax headings.

     
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    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/272958
    Schriftenreihe: ESRI working paper ; no. 730 (July 2022)
    Schlagworte: Housing Wealth; House Prices; Government Budget Balance
    Umfang: 1 Online-Ressource (circa 20 Seiten), Illustrationen
  8. Labor supply response to house price shocks
    evidence from Japan
    Autor*in: Hamaaki, Junya; Iwata, Shinichiro
    Erschienen: 29 September, 2023
    Verlag:  Panel Data Research Center, Keio University, Tokyo, Japan

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Format: Online
    Schriftenreihe: PDRC discussion paper series ; DP2023, 001 (29 September, 2023)
    Schlagworte: Elderly; Housing Wealth; Labor Force Participation; Labor Hours; Japan
    Umfang: 1 Online-Ressource (circa 35 Seiten), Illustrationen