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Pregled bibliografske jedinice broj: 522585

Does housing wealth affect private consumption in European post transition countries? Evidence from linear and threshold models


Ahec Šonje, Amina; Čeh Časni, Anita; Vizek, Maruška
Does housing wealth affect private consumption in European post transition countries? Evidence from linear and threshold models // Post-communist economies, 24 (2012), 1; 73-85 doi:10.1080/14631377.2012.647629 (međunarodna recenzija, članak, znanstveni)


CROSBI ID: 522585 Za ispravke kontaktirajte CROSBI podršku putem web obrasca

Naslov
Does housing wealth affect private consumption in European post transition countries? Evidence from linear and threshold models

Autori
Ahec Šonje, Amina ; Čeh Časni, Anita ; Vizek, Maruška

Izvornik
Post-communist economies (1463-1377) 24 (2012), 1; 73-85

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
post-transition; consumption; wealth; cointegration

Sažetak
This article analyses the relationship between housing wealth and consumption for four European post-transition economies: Bulgaria, Croatia, Estonia and the Czech Republic. We use a vector error correction model and a threshold error correction model in order to asses the long-run and the short-run responsiveness of consumption to permanent changes in housing wealth. We find evidence supporting the existence of the housing wealth effect in all four countries, the strength of which is comparable with developed countries’ wealth effect. In Bulgaria, Croatia and Estonia the response of consumption to housing wealth changes is characterised by threshold effects, while in the Czech Republic the wealth effect is detected only in the linear framework. The error correction model estimates suggest aggregate consumption adjusts to deviations from the long-run equilibrium ; however, in countries where the wealth effect is characterised by threshold effects this adjustment process is partial and takes place when consumption is below levels warranted by the fundamentals. We also find evidence of relatively strong consumption persistence in three of the four countries.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija



POVEZANOST RADA


Projekti:
002-0022469-2470 - Makroekonomska konvergencija Republike Hrvatske Europskoj uniji (Lovrinčević, Željko, MZOS ) ( POIROT)
067-0161711-2483 - Statističko modeliranje za povećanje konkurentnosti suvremenih organizacija (Dumičić, Ksenija, MZOS ) ( POIROT)

Ustanove:
Ekonomski institut, Zagreb,
Ekonomski fakultet, Zagreb,
Zagrebačka škola ekonomije i managementa, Zagreb

Profili:

Avatar Url Maruška Vizek (autor)

Avatar Url Anita Čeh Časni (autor)

Avatar Url Amina Ahec-Šonje (autor)

Citiraj ovu publikaciju

Ahec Šonje, Amina; Čeh Časni, Anita; Vizek, Maruška
Does housing wealth affect private consumption in European post transition countries? Evidence from linear and threshold models // Post-communist economies, 24 (2012), 1; 73-85 doi:10.1080/14631377.2012.647629 (međunarodna recenzija, članak, znanstveni)
Ahec Šonje, A., Čeh Časni, A. & Vizek, M. (2012) Does housing wealth affect private consumption in European post transition countries? Evidence from linear and threshold models. Post-communist economies, 24 (1), 73-85 doi:10.1080/14631377.2012.647629.
@article{article, year = {2012}, pages = {73-85}, DOI = {10.1080/14631377.2012.647629}, keywords = {post-transition, consumption, wealth, cointegration}, journal = {Post-communist economies}, doi = {10.1080/14631377.2012.647629}, volume = {24}, number = {1}, issn = {1463-1377}, title = {Does housing wealth affect private consumption in European post transition countries? Evidence from linear and threshold models}, keyword = {post-transition, consumption, wealth, cointegration} }
@article{article, year = {2012}, pages = {73-85}, DOI = {10.1080/14631377.2012.647629}, keywords = {post-transition, consumption, wealth, cointegration}, journal = {Post-communist economies}, doi = {10.1080/14631377.2012.647629}, volume = {24}, number = {1}, issn = {1463-1377}, title = {Does housing wealth affect private consumption in European post transition countries? Evidence from linear and threshold models}, keyword = {post-transition, consumption, wealth, cointegration} }

Časopis indeksira:


  • Current Contents Connect (CCC)
  • Web of Science Core Collection (WoSCC)
    • Social Science Citation Index (SSCI)
    • SCI-EXP, SSCI i/ili A&HCI
  • Scopus
  • EconLit


Uključenost u ostale bibliografske baze podataka:


  • EconLit


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