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ホリ マサヒロ
HORI Masahiro
堀 雅博 所属 東京経済大学 経済学部 職種 教授 |
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| 言語種別 | 英語 |
| 発行・発表の年月 | 2019/03 |
| 形態種別 | 研究論文（学術雑誌） |
| 査読 | 査読あり |
| 標題 | "Housing Wealth Effects in Japan: Evidence Based on Household Micro Data," |
| 執筆形態 | 共著 |
| 掲載誌名 | The B.E. Journal of Economic Analysis & Policy |
| 掲載区分 | 国外 |
| 著者・共著者 | Masahiro Hori,Takeshi Niizeki |
| 概要 | Using micro data covering almost 500,000 Japanese households over the period 1983–2012, we examine to what extent household consumption responds to changes in housing wealth. To do so, we estimate the housing wealth of individual households by matching several official statistics. Employing cross-section and pseudo-panel-based regressions, we find that the marginal propensity to consume (MPC) out of housing wealth is approximately 0.0008–0.0013 for nondurable consumption and 0.0059–0.0082 for total consumption. We further find that the consumption response of older households is larger than that of younger households, which is consistent with the pure wealth effects hypothesis. |
| DOI | 10.1515/bejeap-2018-0101 |
| ISSN | 1935-1682 |