Consumption and house prices in Ireland

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Title: Consumption and house prices in Ireland
Authors: Hogan, Vincent (Vincent Peter)
O'Sullivan, Patrick
Permanent link: http://hdl.handle.net/10197/330
Date: 2003
Abstract: We examine the link between private consumption and housing wealth in Ireland. We find that the marginal propensity to consume out of housing wealth is essentially zero. This is in marked contrast to the recent evidence for other OECD countries. The evidence is robust to changes in statistical methodology. Thus we can conclude that the recent consumption growth has not been financed by borrowing against housing wealth perhaps because that the private sector does not find recent increases in house prices fully credible.
Type of material: Working Paper
Publisher: University College Dublin, Institute for the Study of Social Change (Geary Institute)
Copyright (published version): UCD Geary Institute
Subject LCSH: Consumption (Economics)--Ireland
Housing--Finance
Housing--Prices
Language: en
Status of Item: Not peer reviewed
Appears in Collections:Geary Institute Working Papers
Economics Research Collection

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