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Consumption and house prices in Ireland
Date Issued
2003
Date Available
2008-07-11T11:02:53Z
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)
Series
ISSC Discussion Paper Series
WP2003/15
Copyright (Published Version)
UCD Geary Institute
Subject – LCSH
Consumption (Economics)--Ireland
Housing--Finance
Housing--Prices
Language
English
Status of Item
Not peer reviewed
This item is made available under a Creative Commons License
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