Can the Consumption–Wealth Ratio Predict Housing Returns? Evidence from OECD Countries
We use a representative consumer model to analyze the relation between the transitory deviations of consumption from its common trend with aggregate wealth and labor income, cay, and the housing risk premium. The evidence based on data for 15 OECD countries shows that, if financial and housing asset...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Blackwell Publishing Ltd
2019
|
| Online Access: | View Fulltext in Publisher |