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https://ruomo.lib.uom.gr/handle/7000/452| Title: | Inequality, demographics and the housing wealth effect: Panel quantile regression evidence for the US |
| Authors: | Bampinas, Georgios Konstantinou, Panagiotis Panagiotidis, Theodore |
| Type: | Article |
| Subjects: | FRASCATI::Social sciences::Economics and Business |
| Keywords: | Housing wealth Wealth effect Consumption Panel quantile Demographics Inequality |
| Issue Date: | Nov-2017 |
| Publisher: | Elsevier |
| Source: | Finance Research Letters |
| Volume: | 23 |
| First Page: | 19 |
| Last Page: | 22 |
| Abstract: | We extend the long-run Case, Quigley and Shiller (2013) type of specification on wealth effects by considering the role of inequality and demographics. Using a panel quantile framework for 48 US states, we find that higher levels of consumption lead to a larger (smaller) marginal effect of housing (financial) wealth. Both inequality and demographics affect consumption in a negative and significant way. Demographics are significant only for relative high levels of consumption. |
| URI: | https://doi.org/10.1016/j.frl.2017.01.001 https://ruomo.lib.uom.gr/handle/7000/452 |
| Other Identifiers: | 10.1016/j.frl.2017.01.001 |
| Appears in Collections: | Department of Economics |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| Finance Research Letters Bampinas et al 2017.pdf | 386,39 kB | Adobe PDF | View/Open |
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