EconPapers    
Economics at your fingertips  
 

Wealth effects out of financial and housing wealth: cross country and age group comparisons

Eva Sierminska and Yelena Takhtamanova

No 2007-01, Working Paper Series from Federal Reserve Bank of San Francisco

Abstract: To explore the link between household consumption and wealth, we use a new source of harmonized microdata (Luxembourg Wealth Study). We investigate whether there are differences in wealth effects from different types of wealth and across age groups. We consider three countries: Canada, Italy and Finland. We find that the overall wealth effect from housing is stronger than the effect from financial wealth for the three countries in the sample. Additionally, in accordance with the life-cycle theory of consumption, we find the housing wealth effect to be significantly lower for younger households. We also find between-country differences in the wealth effect.

Keywords: Consumption (Economics); Wealth; Households - Economic aspects (search for similar items in EconPapers)
Date: 2007
New Economics Papers: this item is included in nep-eec and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (41)

Downloads: (external link)
http://www.frbsf.org/publications/economics/papers/2007/wp07-01bk.pdf (application/pdf)

Related works:
Working Paper: Wealth Effects Out of Financial and Housing Wealth: Cross Country and Age Group Comparisons (2006) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedfwp:2007-01

Ordering information: This working paper can be ordered from

Access Statistics for this paper

More papers in Working Paper Series from Federal Reserve Bank of San Francisco Contact information at EDIRC.
Bibliographic data for series maintained by Federal Reserve Bank of San Francisco Research Library ().

 
Page updated 2025-03-31
Handle: RePEc:fip:fedfwp:2007-01