The Impact of Housing Prices on Aggregate Consumption: Evidence from an East Asian City-State
Using aggregate consumption data for Singapore, this paper rejects the life-cycle/permanent income and myopia hypotheses as explanations for aggregate consumption behavior. We confirm the presence of liquidity constraints from the asymmetric reaction of consumption to income increases vis-a-vis inco...
Saved in:
| Main Author: | |
|---|---|
| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2002
|
| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/soe_research/1195 https://ink.library.smu.edu.sg/context/soe_research/article/2194/viewcontent/JUE20021.pdf |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| Institution: | Singapore Management University |
| Language: | English |