Pregled bibliografske jedinice broj: 853942
Is there a housing wealth effect in European countries?
Is there a housing wealth effect in European countries? // Croatian review of economic, business and social statistics, 29 (2016), 2; 30-40 doi:10.1515/crebss-2016-0011 (podatak o recenziji nije dostupan, članak, znanstveni)
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Naslov
Is there a housing wealth effect in European countries?
Autori
Čeh Časni, Anita
Izvornik
Croatian review of economic, business and social statistics (1849-8531) 29
(2016), 2;
30-40
Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni
Ključne riječi
European countries ; housing wealth effect ; personal consumption ; pooled mean group estimator
Sažetak
In this study, a housing wealth effect on personal consumption is assumed and tested on 16 selected European countries using an estimator developed for dynamic heterogeneous panel data analysis. Empirical estimates have shown that there is a long-run and a short-run housing wealth effect in analysed countries. The elasticity of real private consumption to changes in real disposable income has shown to be positive and statistically significant as well as the elasticity of consumption to changes in real housing wealth. Therefore, the research hypothesis of this paper of a statistically significant and positive long-term relationship between housing wealth and private consumption in the analysed countries was confirmed.
Izvorni jezik
Engleski
Znanstvena područja
Ekonomija
Napomena
This work has been partially supported by Croatian Science Foundation under the project Statistical Modelling for Response to Crisis and Economic Growth in Western Balkan Countries - STRENGTHS (No.: IP-2013-9402).
