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House price and household consumption micro-data approach

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posted on 28.03.2022, 09:20 authored by Bowen Fu
This paper investigates the relationship between house prices and consumption by using the HILDA (Household, Income and Labour Dynamics in Australia) survey over the period of 2003 to 2012. We find young households have the largest changes in consumption in response to changes in house prices. We also find renters (homeowners) have negative (positive) changes in consumption in response to changes in house prices. Under the permanent income hypothesis and the life-cycle model frameworks, these two main findings suggest that the co-movement between house prices and household consumption in Australia may be mainly explained by the credit constraint channel.

History

Table of Contents

1. Introduction -- 2. Theoretical background -- 3. Empirical literature review -- 4. Data and methodology -- 5. Results -- 6. Conclusion.

Notes

Theoretical thesis. Bibliography: pages 63-66

Awarding Institution

Macquarie University

Degree Type

Thesis MRes

Degree

MRes, Macquarie University, Faculty of Business and Economics, Department of Economics

Department, Centre or School

Department of Economics

Year of Award

2015

Rights

Copyright Bowen Fu 2015. Copyright disclaimer: http://mq.edu.au/library/copyright

Language

English

Jurisdiction

Australia

Extent

1 online resource (vii, 77 pages graphs)

Former Identifiers

mq:57164 http://hdl.handle.net/1959.14/1161898