Pregled bibliografske jedinice broj: 516674
Consumption, Housing and Stock Market Wealth in European Post-Transition Countries
Consumption, Housing and Stock Market Wealth in European Post-Transition Countries // 3rd International Conference "Economies of Central and Eastern Europe: Convergence, Opportunities and Challenges"
Talin, Estonija, 2011. (predavanje, međunarodna recenzija, cjeloviti rad (in extenso), znanstveni)
CROSBI ID: 516674 Za ispravke kontaktirajte CROSBI podršku putem web obrasca
Naslov
Consumption, Housing and Stock Market Wealth in European Post-Transition Countries
Autori
Vizek, Maruška
Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni
ISBN
978-9949-430-50-5
Skup
3rd International Conference "Economies of Central and Eastern Europe: Convergence, Opportunities and Challenges"
Mjesto i datum
Talin, Estonija, 12.06.2011. - 14.06.2011
Vrsta sudjelovanja
Predavanje
Vrsta recenzije
Međunarodna recenzija
Ključne riječi
post-transition; consumption; wealth
Sažetak
This study analyzes the relationship between stock market wealth, housing market wealth and consumption using data for 4 Central and Eastern European countries (CEEC) ; Bulgaria, Croatia, Estonia and the Czech Republic. We use cointegration, vector error correction models and impulse response functions which facilitate the assessment of long run and short run responsiveness of consumption to permanent changes in stock market wealth and housing wealth. We find evidence that supports the presence of the long run wealth effect in Bulgaria, Croatia, and the Czech Republic. In Bulgaria only stock market wealth effect matters, while in the remaining two countries both types of wealth effects are important. In the short run income and consumption adjust most of the discrepancies, while stock market and housing wealth are weakly exogenous.
Izvorni jezik
Engleski
Znanstvena područja
Ekonomija
