Housing Wealth Effects in Japan: Evidence Based on Household Micro Data

DOI Web Site Web Site XML 被引用文献3件 参考文献29件
  • Masahiro Hori
    Hitotsubashi University , School of International and Public Policy , 2-1-2 Hitotsubashi Chiyoda-ku, Tokyo 101-8439 , Japan
  • Takeshi Niizeki
    Cabinet Office , Economic and Social Research Institute , 1-6-1 Nagata-cho Chiyoda-ku, Tokyo, 100-8914 , Japan

この論文をさがす

説明

<jats:title>Abstract</jats:title> <jats:p>Using micro data covering almost 500,000 Japanese households over the period 1983–2012, we examine to what extent household consumption responds to changes in housing wealth. To do so, we estimate the housing wealth of individual households by matching several official statistics. Employing cross-section and pseudo-panel-based regressions, we find that the marginal propensity to consume (MPC) out of housing wealth is approximately 0.0008–0.0013 for nondurable consumption and 0.0059–0.0082 for total consumption. We further find that the consumption response of older households is larger than that of younger households, which is consistent with the pure wealth effects hypothesis.</jats:p>

収録刊行物

被引用文献 (3)*注記

もっと見る

参考文献 (29)*注記

もっと見る

関連プロジェクト

もっと見る

キーワード

問題の指摘

ページトップへ