Mortgage Variables, Monetary Policy and Consumption

Mthuli Ncube () and Eliphas Ndou

Chapter 6 in Monetary Policy and the Economy in South Africa, 2013, pp 83-109 from Palgrave Macmillan

Abstract: Abstract This chapter builds on Chapters 4 and 5. The preceding chapters examined the importance of the indirect channel of household wealth on consumption, and how this varies with house size, and the importance of disposable income for different consumption categories. This chapter discusses the role of mortgages in South Africa and investigates the importance of the housing market including lending and credit supply shocks. We extend the study to account for the directional push effect of developments in the US housing market on their South African counterparts. To what extent are the spillovers from the US residential investment and house price important in accounting for the deterioration of the South African housing market during 2009 and thereafter?

Keywords: Monetary Policy; House Price; Housing Market; Private Consumption; Mortgage Loan (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-33415-2_6

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DOI: 10.1057/9781137334152_6

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