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Conference Paper: The Impact of Housing and Financial Wealth on Household Consumption: Evidence from Hong Kong

TitleThe Impact of Housing and Financial Wealth on Household Consumption: Evidence from Hong Kong
Authors
Man, KFTse, YCYiu, CY
Issue Date2007
Citation
The 12th Asian Real Estate Society (AsRES) Annual Conference and The 2007 AREUEA International Conference, Macau, China, 10-12 July 2007 How to Cite?
AbstractHousing is the most important single investment for most individual investors. Thus, the equity of housing capital would have a major psychological impact on the homeowners through a consumption effect. This study explores the wealth effect of housing and stock markets in Hong Kong. Taking into account the factors of money supply and interest rate, our results show that there is a long-term equilibrium relationship between household consumption and the changes in housing wealth. This effect appears to be more significant than that associated with changes in financial wealth.
Persistent Identifierhttp://hdl.handle.net/10722/115983

 

DC FieldValueLanguage
dc.contributor.authorMan, KFen_HK
dc.contributor.authorTse, YCen_HK
dc.contributor.authorYiu, CYen_HK
dc.date.accessioned2010-09-26T06:10:18Z-
dc.date.available2010-09-26T06:10:18Z-
dc.date.issued2007en_HK
dc.identifier.citationThe 12th Asian Real Estate Society (AsRES) Annual Conference and The 2007 AREUEA International Conference, Macau, China, 10-12 July 2007-
dc.identifier.urihttp://hdl.handle.net/10722/115983-
dc.description.abstractHousing is the most important single investment for most individual investors. Thus, the equity of housing capital would have a major psychological impact on the homeowners through a consumption effect. This study explores the wealth effect of housing and stock markets in Hong Kong. Taking into account the factors of money supply and interest rate, our results show that there is a long-term equilibrium relationship between household consumption and the changes in housing wealth. This effect appears to be more significant than that associated with changes in financial wealth.-
dc.languageengen_HK
dc.relation.ispartofThe 12th Asian Real Estate Society (AsRES) Annual Conference and The 2007 AREUEA International Conferenceen_HK
dc.titleThe Impact of Housing and Financial Wealth on Household Consumption: Evidence from Hong Kongen_HK
dc.typeConference_Paperen_HK
dc.identifier.emailYiu, CY: ecyyiu@hkucc.hku.hken_HK
dc.identifier.authorityYiu, CY=rp01035en_HK
dc.identifier.hkuros127480en_HK

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