Utilize este identificador para referenciar este registo:
https://hdl.handle.net/1822/44659
Título: | Assessing financial and housing wealth effects through the lens of a nonlinear framework |
Autor(es): | Jawadi, Fredj Soparnot, Richard Sousa, Ricardo M. |
Palavras-chave: | Consumption Housing wealth Asymmetry Financial wealt Nonlinearity Financial wealth |
Data: | Jan-2017 |
Editora: | Elsevier |
Revista: | Research in International Business and Finance |
Resumo(s): | This paper examines the effects of wealth on consumption for the US, the UK and the Euro area using a smooth-transition regression (STR) model. We find evidence of an asymmetric and time-varying relationship between consumption and wealth. Additionally, our model tracks consumption patterns reasonably well during periods of economic downturn, financial instability and housing market corrections. While wealth effects are not significant in the Euro area, they are statistically significant and time-varying in the US and the UK. Interestingly, changes in housing wealth are source of switching between regimes in the US. |
Tipo: | Artigo |
Descrição: | JEL classification: G01; C22; E21 |
URI: | https://hdl.handle.net/1822/44659 |
DOI: | 10.1016/j.ribaf.2014.11.004 |
ISSN: | 0275-5319 |
Versão da editora: | www.sciencedirect.com |
Arbitragem científica: | yes |
Acesso: | Acesso restrito UMinho |
Aparece nas coleções: | NIPE - Artigos em Revistas de Circulação Internacional com Arbitragem Científica |
Ficheiros deste registo:
Ficheiro | Descrição | Tamanho | Formato | |
---|---|---|---|---|
Assessing financial and housing wealth effects.....pdf Acesso restrito! | 1,08 MB | Adobe PDF | Ver/Abrir |