Financial and Housing Wealth and Consumption Spending: Cross-Country and Age Group Comparisons
Financial and Housing Wealth and Consumption Spending: Cross-Country and Age Group Comparisons
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金融和住房财富与消费支出：跨国家和年龄组比较
DOI：
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发表时间：
2012
期刊：
影响因子：
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通讯作者：
Yelena Takhtamanova
中科院分区：
文献类型：
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作者：
Eva Sierminska;Yelena Takhtamanova
在这项研究中，我们通过检验不同类型财富的消费支出弹性来探索家庭支出和财富之间的跨年龄分布之间的联系。我们使用了五个国家的新的统一财富微观数据来源：加拿大、芬兰、意大利、德国和美国。我们的结果表明，在芬兰、意大利、德国、美国和加拿大，对于某些年龄段，住房财富的影响主导着金融财富的影响。我们发现，年轻家庭对住房财富的消费反应在统计上要低得多。分析还证实了国家之间存在差异。
In this study we explore the link between household expenditures and wealth across the age distribution by examining the elasticity of consumption spending from different types of wealth. We use a new source of harmonized wealth micro data for five countries: Canada, Finland, Italy, Germany and the US. Our results indicate that the effect of housing wealth dominates the effect of financial wealth in Finland, Italy, Germany, the US, and also in Canada for certain age groups. We find consumption responsiveness to housing wealth to be statistically significantly lower for younger households. The analysis also confirms the existence of between-country differences.