Arbeitspapier
Housing equity, saving and debt dynamics over the Great Recession
This paper uses the large and heterogeneous house price shocks in Denmark from 2006-2009 to provide new evidence on the contested determinants of the correlation between house prices and saving. Crucially, to compare the savings behaviour of home-owners who experienced di fferent house price shocks but similar shocks to income expectations, we exploit the structure of the wage setting process in the Danish public sector. We fi nd strong evidence of a causal link between changes in house prices and saving for young and old home-owners, both through a direct wealth eff ect and through housing equity serving as collateral or precautionary wealth.
- Sprache
-
Englisch
- Erschienen in
-
Series: IFS Working Papers ; No. W16/12
- Klassifikation
-
Wirtschaft
Household Saving; Personal Finance
Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
Macroeconomics: Consumption; Saving; Wealth
Urban, Rural, Regional, Real Estate, and Transportation Economics: Household Analysis: General
- Thema
-
Housing
Saving
Wealth effect
Collateral
Debt dynamics
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Elming, William
Ermler, Andreas
- Ereignis
-
Veröffentlichung
- (wer)
-
Institute for Fiscal Studies (IFS)
- (wo)
-
London
- (wann)
-
2016
- DOI
-
doi:10.1920/wp.ifs.2016.1612
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Elming, William
- Ermler, Andreas
- Institute for Fiscal Studies (IFS)
Entstanden
- 2016