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dc.contributor.authorMuellbauer, Johnen
dc.date.accessioned2012-09-21T09:27:45Z-
dc.date.available2012-09-21T09:27:45Z-
dc.date.issued2007-
dc.identifier.isbn9291909688=978-92-9190-968-1en
dc.identifier.urihttp://hdl.handle.net/10419/63289-
dc.description.abstractHousing 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. It analyzes how those differences help to create contrasts in the impact on consumption of housing as a component of personal wealth. The impacts of rates of home ownership, credit market characteristics, interest rates, and macroeconomic conditions are studied. Implications for monetary, fiscal, and other policies are discussed.en
dc.language.isoengen
dc.publisher|aThe United Nations University World Institute for Development Economics Research (UNU-WIDER) |cHelsinkien
dc.relation.ispartofseries|aWIDER Research Paper |x2007/27en
dc.subject.jelE21en
dc.subject.jelE40en
dc.subject.jelR31en
dc.subject.ddc330en
dc.subject.keywordhousingen
dc.subject.keywordwealthen
dc.subject.keywordconsumptionen
dc.subject.keywordinterest ratesen
dc.subject.keywordmonetary transmissionen
dc.subject.stwVermögenen
dc.subject.stwPrivater Haushalten
dc.subject.stwWohneigentumen
dc.subject.stwWohnungsmarkten
dc.subject.stwVerbraucherausgabenen
dc.subject.stwOECD-Staatenen
dc.subject.stwGroßbritannienen
dc.subject.stwEU-Staatenen
dc.titleHousing and personal wealth in a global context-
dc.typeWorking Paperen
dc.identifier.ppn537390766en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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