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Pregled bibliografske jedinice broj: 690338

The Effect of Housing and Stock Market Wealth on Consumption in Emerging and Developed Countries


Ahec Šonje, Amina; Čeh Časni, Anita; Vizek, Maruška
The Effect of Housing and Stock Market Wealth on Consumption in Emerging and Developed Countries // Economic systems, 38 (2014), 3; 433-450 doi:10.1016/j.ecosys.2014.03.001 (međunarodna recenzija, članak, znanstveni)


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Naslov
The Effect of Housing and Stock Market Wealth on Consumption in Emerging and Developed Countries

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

Izvornik
Economic systems (0939-3625) 38 (2014), 3; 433-450

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

Ključne riječi
private consumption ; wealth ; panel cointegration ; emerging economies

Sažetak
This study examines the long-run and the short-run relationship between private consumption, housing wealth, stock market wealth, and income. In order to asses this relationship empirically we use pooled mean group estimator of dynamic heterogeneous panel data on the sample of 30 developed and emerging economies. The sample countries are segmented into three separate panels: developed bank-based panel, developed market-based panel, and emerging bank-based panel. Empirical estimates support the existence of the long-run and the short-run stock market wealth effect in both groups of the developed countries, with this effect being particularly strong in the developed market-based countries. Moderate long- run housing wealth effect is confirmed only for the developed bank-based countries, while very strong short-run housing wealth effect is present in the developed market-based countries. As far as the emerging countries are concerned, the evidence is somewhat inconclusive but it does seem to suggest that both wealth effects are effective in the long-run, with housing wealth being more dominant.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija



POVEZANOST RADA


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
The Effect of Housing and Stock Market Wealth on Consumption in Emerging and Developed Countries // Economic systems, 38 (2014), 3; 433-450 doi:10.1016/j.ecosys.2014.03.001 (međunarodna recenzija, članak, znanstveni)
Ahec Šonje, A., Čeh Časni, A. & Vizek, M. (2014) The Effect of Housing and Stock Market Wealth on Consumption in Emerging and Developed Countries. Economic systems, 38 (3), 433-450 doi:10.1016/j.ecosys.2014.03.001.
@article{article, year = {2014}, pages = {433-450}, DOI = {10.1016/j.ecosys.2014.03.001}, keywords = {private consumption, wealth, panel cointegration, emerging economies}, journal = {Economic systems}, doi = {10.1016/j.ecosys.2014.03.001}, volume = {38}, number = {3}, issn = {0939-3625}, title = {The Effect of Housing and Stock Market Wealth on Consumption in Emerging and Developed Countries}, keyword = {private consumption, wealth, panel cointegration, emerging economies} }
@article{article, year = {2014}, pages = {433-450}, DOI = {10.1016/j.ecosys.2014.03.001}, keywords = {private consumption, wealth, panel cointegration, emerging economies}, journal = {Economic systems}, doi = {10.1016/j.ecosys.2014.03.001}, volume = {38}, number = {3}, issn = {0939-3625}, title = {The Effect of Housing and Stock Market Wealth on Consumption in Emerging and Developed Countries}, keyword = {private consumption, wealth, panel cointegration, emerging economies} }

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


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