Previous studies have found evidence for the effect of unexpected house price changes on consumption and saving as predicted by the life cycle model. Furthermore,
strong evidence for an effect on house expenditures has been found. Households increase house expenditures when house prices increase. In this study a life cycle model is developed with house expenditures that connects these two topics. The model predicts that the effect of house price changes on consumption and saving increases with the price level. This predictions are empirically tested using data from the Dutch national bank (DNB) Household Survey (DHS). No evidence in favour of the effect on house expenditures is found using limited data. Evidence in favour of the effect on saving is found.

Netspar, Network for Studies on Pensions, Aging and Retirement, is een denktank en kennisnetwerk. Netspar is gericht op een goed geïnformeerd pensioendebat.

MEER OVER NETSPAR


Missie en strategie           •           Netwerk           •           Organisatie           •          Magazine
Netspar Brief            •            Werkprogramma 2019-2023           •           Onderzoekagenda

OVER NETSPAR

Onze partners

B20160708_tilburg university
B20200214_BlackRock_BLK_eng_black_rgb_small
B20200104_RailOV_logoo.original.grijswaarden
Print
B20190823_mn-logo_small
Bekijk al onze partners