Link to the University of Pittsburgh
Link to the University Library SystemContact us link
AEI Banner

CONSUMPTION AND HOUSE PRICES IN IRELAND, Quarterly Economic Commentary Autumn 2007

Hogan, V. and O'Sullivan, P. (2007) CONSUMPTION AND HOUSE PRICES IN IRELAND, Quarterly Economic Commentary Autumn 2007. [Working Paper]

[img] PDF - Published Version
Download (298Kb)

    Abstract

    We examine the link between private consumption and housing wealth in Ireland. We find that until very recently the marginal propensity to consume out of housing wealth was essentially zero. This is in marked contrast to the recent evidence for other OECD countries. The evidence is robust to changes in statistical methodology. Thus we can conclude that the recent consumption growth was not financed by borrowing against housing wealth. This suggests that any decline in house prices would not cut consumption significantly.

    Export/Citation:EndNote | BibTeX | Dublin Core | ASCII (Chicago style) | HTML Citation | OpenURL
    Social Networking:
    Share |
    Item Type: Working Paper
    Subjects for non-EU documents: Countries > Ireland
    EU policies and themes > Policies & related activities > economic and financial affairs > housing
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Economic and Social Research Institute (ESRI), Dublin > ESRI Quarterly Economic Commentary
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 24 Oct 2019 16:54
    Number of Pages: 17
    Last Modified: 07 Jan 2020 18:34
    URI: http://aei.pitt.edu/id/eprint/99552

    Actions (login required)

    		 View Item

    Document Downloads