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The Impact Of Changes In Stock Prices And House Prices On Consumption In Oecd Countries
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Book Synopsis The Impact of Changes in Stock Prices and House Prices on Consumption in OECD Countries by : Alexander Ludwig
Download or read book The Impact of Changes in Stock Prices and House Prices on Consumption in OECD Countries written by Alexander Ludwig and published by International Monetary Fund. This book was released on 2002 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper quantifies the different impact of stock and house prices on consumption using data for 16 OECD countries. The analysis finds that the long-run impact of an increase in stock prices and house prices is in general higher in countries with a market-based financial system. The sensitivity of consumption to changes in stock wealth is about twice as large as the sensitivity to changes in housing wealth. Splitting the sample into the 1980s and 1990s shows that both countries with a market-based financial system and countries with a bank-based financial system moved toward a higher degree of responsiveness of consumption to changes in stock prices and house prices.
Book Synopsis OECD Economic Outlook, Volume 2002 Issue 2 by : OECD
Download or read book OECD Economic Outlook, Volume 2002 Issue 2 written by OECD and published by OECD Publishing. This book was released on 2002-12-24 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Twice a year, the OECD Economic Outlook analyses the major trends that will mark the next two years. This issue's special features cover the deterioration of budgetary positions in most countries, labour force participation of older workers, product market competition reforms, and inflation.
Book Synopsis OECD Economic Outlook, Volume 2010 Issue 2 by : OECD
Download or read book OECD Economic Outlook, Volume 2010 Issue 2 written by OECD and published by OECD Publishing. This book was released on 2010-12-07 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: The OECD Economic Outlook analyses the current economic situation and examines the economic policies required to foster a sustained recovery in member countries. This issue covers the outlook to end-2012 and includes a special chapter on fiscal consolidation.
Author :Prof. Jun Yeh, Tallinn University of Technology, Estonia Publisher :DEStech Publications, Inc ISBN 13 :160595182X Total Pages :532 pages Book Rating :4.6/5 (59 download)
Book Synopsis by : Prof. Jun Yeh, Tallinn University of Technology, Estonia
Download or read book written by Prof. Jun Yeh, Tallinn University of Technology, Estonia and published by DEStech Publications, Inc. This book was released on 2014-07-07 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt: amount of new knowledge every day. We have to acknowledge that even the smartest people among us are incapable of familiarizing himself with all these new data. Fortunately, we are only required to deal with a very small amount of that vast number in our work and life. As those who devote himself to the field of information technology and management engineering, I sincerely believe that it is our responsibility to make efforts to accelerate the advance of science in such fields. The 2014 international Conference on Information Technology and Management Engineering, thanks to the hard work of its committee, will be held on April 26 and 27 in Hong Kong. The ITME2014 covers a wide range of topics such as network protocols, information theory and coding theory, network security, management theory, project management, public management, knowledge management etc. It is a great honor to us that numerous people from various countries, including many famous experts and excellent researchers, have shown their interest in this convention and submitted their latest studies to us as their support. Among these studies, we have selected about a hundred to be finally included in this proceeding after reviewing and discussing. We believe that this collection of work will be of great value not only to the participants of ITME2014, but also to those who has a chance of meeting it. The publication of this conference proceedings and the successful opening of ITME2014 owe its credit to a lot of people and institutions, especially the ITME2014 committee, the editors and DEStech Publications. The committee has devoted much time to reviewing the papers submitted to ITME2014, and DEStech Publications publishing those accepted papers. I would like to thank the committee and the press deeply here for their support to ITME2014 and I am eagerly looking forward to another chance for us to be a team again. Finally, let’s wish together that the 2014 International Conference on Information Technology
Book Synopsis Exchange Rate, Second Round Effects and Inflation Processes by : Eliphas Ndou
Download or read book Exchange Rate, Second Round Effects and Inflation Processes written by Eliphas Ndou and published by Springer. This book was released on 2019-04-23 with total page 421 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on the exchange rate pass-through (ERPT), second round effects and the inflation process in South Africa. The authors demonstrate that magnitudes of the second round effects of the exchange rate depreciation and oil price shocks depend on inflation regimes. The impact of positive oil price shocks on inflation is weakened by monetary policy credibility. Evidence shows the influence of oil price on unit labour costs and correlation between exchange rate changes and inflation has weakened. In addition, ERPT is reduced by low business and consumer confidence, high trade openness, low inflation and high exchange rate volatility which weaken real economic activity. Both monetary and fiscal policy credibility lowers the sizes of ERPT to inflation and inflation expectations. Fiscal policy via fuel levies, administered prices and public transport inflation channel impacts the responses of monetary policy to inflation shocks. The authors show that second round effects contribute very little to wage inflation following an exchange rate depreciation shock. Both lending rate and household consumption responds asymmetrical to repo rate changes. This book will appeal to policymakers, students, academics and analysts.
Book Synopsis Fundamental Drivers of House Prices in Advanced Economies by : Ms.Nan Geng
Download or read book Fundamental Drivers of House Prices in Advanced Economies written by Ms.Nan Geng and published by International Monetary Fund. This book was released on 2018-07-13 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: House prices in many advanced economies have risen substantially in recent decades. But experience indicates that housing prices can diverge from their long-run equilibrium or sustainable levels, potentially followed by adjustments that impact macroeconomic and financial stability. Therefore there is a need to monitor house prices and assess whether they are sustainable. This paper focuses on fundamentals expected to drive long run trends in house prices, including institutional and structural factors. The scale of potential valuation gaps is gauged on the basis of a cross-country panel analysis of house prices in 20 OECD countries.
Book Synopsis OECD Economic Outlook, Volume 2009 Issue 2 by : OECD
Download or read book OECD Economic Outlook, Volume 2009 Issue 2 written by OECD and published by OECD Publishing. This book was released on 2010-01-05 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: The OECD Economic Outlook analyses the current economic situation and examines the economic policies required to foster a sustained recovery in member countries. This issue covers the outlook to end-2011 for both OECD countries and selected non-OECD economies.
Book Synopsis The Blackwell Companion to the Economics of Housing by : Susan J. Smith
Download or read book The Blackwell Companion to the Economics of Housing written by Susan J. Smith and published by John Wiley & Sons. This book was released on 2010-01-22 with total page 648 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Blackwell Companion to the Economics of Housing willhelp students and professionals alike to explore key elements ofthe housing economy: home prices, housing wealth, mortgage debt,and financial risk. Features 24 original essays, including an editorialintroduction and three section overviews Includes 39 world-class authors from a mix of educational andfinancial organizations in the UK, Europe, Australia, and NorthAmerica Broadly-based, scholarly, and accessible, serving students andprofessionals who wish to understand how today’s housingeconomy works Profiles the role and relevance of housing wealth; themismanagement of mortgage debt; and the pitfalls and potential ofhedging housing risk Key topics include: the housing price bubble and crash; thesubprime mortgage crisis in the US and its aftermath; the linksbetween housing wealth, the macroeconomy, and the welfare ofhome-occupiers; the mitigation of credit and housing investmentrisks Specific case studies help to illustrate concepts, along withnew data sets and analyses to illustrate empirical points
Book Synopsis It’s Not All Fiscal by : Laura Jaramillo
Download or read book It’s Not All Fiscal written by Laura Jaramillo and published by International Monetary Fund. This book was released on 2015-05-26 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: We attempt to disentangle income and wealth effects on consumption by disaggregating both the different types of income and wealth. We estimate a consumption function for a panel of quarterly data for 14 advanced economies spanning 1998 to 2012, using an error correction specification. We find a significant long-term relation between consumption and the different components of income and wealth. While fiscal policy had direct effects on consumption, the analysis suggests that wealth effects were sizeable, and therefore need to be kept in mind when analyzing consumption trends going forward.
Download or read book OECD Economic Outlook written by and published by . This book was released on 2003 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Economics of the Modernisation of Direct Real Estate and the National Estate - a Singapore Perspective by : Kim Hin David HO
Download or read book The Economics of the Modernisation of Direct Real Estate and the National Estate - a Singapore Perspective written by Kim Hin David HO and published by Partridge Publishing Singapore. This book was released on 2022-05-11 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economics of The Modernisation of Direct Real Estate and The National Estate - A Singapore Perspective Chapter 1 takes a close look the vector auto regression (VAR) model, offering a dynamic system of solely direct real estate variables, for international direct real estate investors and policy makers, to enable their decision-making. Chapter 2 examines the association of residential price and aggregate consumption. A cross-spectra analysis is helps to so validate, because of its model-free characteristics Chapter 3 is concerned with the underlying housing market dynamics and housing price time-series variation, via the Singapore (SG) generalized dynamic factor model (GDFM). Chapter 4 is concerned with the in-depth market analysis and empirical analysis of the structural behavior of the important SG private housing sector. Chapter 5 acknowledges that an in-depth sector analysis and an empirical analysis are imperative to better understand the structural behavior of the SG office sector. Chapter 6 is concerned with the Main Upgrading Programme (MUP), a highly targeted subsidized Housing Development Board (HDB) policy, since the 1990s. Chapter 7 recognizes the ‘National Estate’, denoting SG’s built environment, due to physical planning, integrated urban design, and the direct influence of the SG government in providing physical infrastructure via government ministries, statutory boards and public authorities. Chapter 8 offers the book’s conclusion.
Book Synopsis The Impact of Banks and Assets Markets on Economic Growth and Fiscal Stability by : Felix Eschenbach
Download or read book The Impact of Banks and Assets Markets on Economic Growth and Fiscal Stability written by Felix Eschenbach and published by Rozenberg Publishers. This book was released on 2004 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis OECD Economic Outlook, Volume 2003 Issue 2 by : OECD
Download or read book OECD Economic Outlook, Volume 2003 Issue 2 written by OECD and published by OECD Publishing. This book was released on 2003-12-18 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This issue of the OECD Economic Outlook analyses the major trends that will mark the next two years as well as looking at fiscal policy and its influence on economic activity and fiscal relations across levels of government. It also looks at raising the cost effectiveness of government spending.
Book Synopsis The Limits of Choice by : Sahra Wagenknecht
Download or read book The Limits of Choice written by Sahra Wagenknecht and published by Campus Verlag. This book was released on 2013-10-02 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: Wann und warum sparen private Haushalte? Sahra Wagenknecht untersucht in ihrer Dissertation den Zusammenhang von Sparentscheidungen und Grundbedürfnissen in Deutschland und den USA von den 1950er-Jahren bis heute. Ihre zentrale Hypothese lautet, dass der Einkommensanteil der Ausgaben zur Befriedigung von Grundbedürfnissen die entscheidende Erklärungsvariable des individuellen Sparverhaltens darstellt. In Abgrenzung zur Lebenszyklus- bzw. Permanenten Einkommenshypothese (LCPIH) kann Wagenknecht zeigen, dass die individuelle Sparquote entscheidend vom langfristigen Einkommen abhängt. Die Arbeit weist für einen Zeitraum von über 50 Jahren nach, dass sich auch auf volkswirtschaftlicher Ebene die Veränderung der privaten Sparquote durch den "necessity share" erklären lässt. Das vorgelegte Modell liefert zudem eine Erklärung, weshalb die private Sparquote bei steigender Einkommensungleichheit in Volkswirtschaften mit dereguliertem Kreditmarkt sinkt, während sie bei restriktiven Kreditmärkten steigt.
Book Synopsis Housing Markets in Europe by : Olivier de Bandt
Download or read book Housing Markets in Europe written by Olivier de Bandt and published by Springer Science & Business Media. This book was released on 2010-10-14 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the recession in the years 2008-2009, the most severe for mature economies in the post-war period, housing markets were often mentioned as having a special responsibility. The objective of this book is to shed light on the cyclical behaviour of the housing markets, its fundamental determinants in terms of supply and demand characteristics, and its relationship with the overall business cycle. The co-movements of house prices across countries are also considered, as well as the channel of transmission of house price changes to the rest of the economy. Particular attention is paid to the effects on private consumption, through possible wealth effects. The book is a compilation of original papers produced by economists and researchers from the four main national central banks in the euro area, also with the participation of leading academics.
Book Synopsis The Politics of Housing Booms and Busts by : Leonard Seabrooke
Download or read book The Politics of Housing Booms and Busts written by Leonard Seabrooke and published by Springer. This book was released on 2009-06-25 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book demonstrates how housing systems are built from political struggles over the distribution of welfare and wealth. The contributors analyze varieties of residential capitalism through a range of international case studies, as well as investigating the links between housing finance and the current international financial crisis.
Book Synopsis Subprime Nation by : Herman M. Schwartz
Download or read book Subprime Nation written by Herman M. Schwartz and published by Cornell University Press. This book was released on 2011-01-15 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: In his exceedingly timely and innovative look at the ramifications of the collapse of the U.S. housing market, Herman M. Schwartz makes the case that worldwide, U.S. growth and power over the last twenty years has depended in large part on domestic housing markets. Mortgage-based securities attracted a cascade of overseas capital into the U.S. economy. High levels of private home ownership, particularly in the United States and the United Kingdom, have helped pull in a disproportionately large share of world capital flows.As events since mid-2008 have made clear, mortgage lenders became ever more eager to extend housing loans, for the more mortgage packages they securitized, the higher their profits. As a result, they were dangerously inventive in creating new mortgage products, notably adjustable-rate and subprime mortgages, to attract new, mainly first-time, buyers into the housing market. However, mortgage-based instruments work only when confidence in the mortgage system is maintained. Regulatory failures in the American S&L sector, the accounting crisis that led to the extinction of Arthur Andersen, and the subprime crisis that destroyed Lehman Brothers and Merrill Lynch and damaged many other big financial institutions have jeopardized a significant engine of economic growth. Schwartz concentrates on the impact of U.S. regulatory failure on the international economy. He argues that the "local" problem of the housing crisis carries substantial and ongoing risks for U.S. economic health, the continuing primacy of the U.S. dollar in international financial circles, and U.S. hegemony in the world system.
