Housing and Personal Wealth in a Global Context

John Muellbauer

No RP2007-27, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: Housing is the single most important component of personal wealth in most countries. The special characteristics of housing markets are therefore key to understanding personal portfolios, saving, the household distribution of wealth, and the monetary transmission mechanism. This paper discusses how housing markets and institutions differ across countries, paying particular attention to the UK and the EU, but extending its reach as well to other OECD countries such as Japan and emerging market countries such as South Africa.

Keywords: Consumption; Housing; Interest rate; Macroeconomics (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:unu:wpaper:rp2007-27

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