Re-Examining the Impact of Housing Wealth and Stock Wealth on Household Spending: Does Persistence in Wealth Changes Matter?

2013 ◽  
Author(s):  
Richard A. Ashley ◽  
Guo Li
Keyword(s):  
Housing Wealth ◽  
Household Spending ◽  
The Impact

The impact of diminished housing wealth on health in the United States: Evidence from the Great Recession

2015 ◽  
Vol 130 ◽  
pp. 234-241 ◽  
Author(s):  
Tansel Yilmazer ◽  
Patryk Babiarz ◽  
Fen Liu
Keyword(s):  
United States ◽  
Great Recession ◽  
The United States ◽  
Housing Wealth ◽  
The Great Recession ◽  
The Impact

The Impact of Parental Wealth on College Degree Attainment: Evidence from the Housing Boom and Bust

2020 ◽  
Vol 110 ◽  
pp. 405-410 ◽  
Author(s):  
Rucker C. Johnson
Keyword(s):  
Degree Attainment ◽  
Panel Study ◽  
Housing Price ◽  
Housing Wealth ◽  
College Degree ◽  
Federal Housing ◽  
Boom And Bust ◽  
Parental Wealth ◽  
Geocoded Data ◽  
The Impact

This study provides new evidence on the impact of parental wealth on college degree attainment. Using geocoded data from the Panel Study of Income Dynamics (1968-2017) linked to local housing price data from the Federal Housing Finance Agency, the empirical strategy analyzes parental housing wealth changes induced by local housing booms of the late 1990s-early 2000s and the subsequent housing bust of the 2007-2009 period. 2SLS/IV estimates show parental wealth significantly increases the likelihood of earning a four-year college degree. Moreover, the combined effects of parental income and wealth are significantly greater than the effects of income alone.

scholarly journals Aging in Place, Housing Maintenance, and Reverse Mortgages

2019 ◽  
Vol 87 (4) ◽  
pp. 1799-1836 ◽  
Author(s):  
João F Cocco ◽  
Paula Lopes
Keyword(s):  
Aging In Place ◽  
The Elderly ◽  
Cash Flows ◽  
Housing Wealth ◽  
Reverse Mortgages ◽  
The Government ◽  
Saving Decisions ◽  
Pareto Improving ◽  
The Impact

Abstract We study the role of housing wealth in financing retirement consumption. In our model retirees: 1. derive utility benefits from remaining in their home (aging in place); and 2. choose in each period whether to maintain their house. The evidence that we present shows that these features are important in explaining the saving decisions of the elderly. The costs and the maintenance requirement of reverse mortgages (RMs) reduce (or eliminate) the benefits of the loans for retirees who wish to do less maintenance. We evaluate the impact of different loan features on retirees’ utility, cash-flows to lenders, and to the government agency that provides mortgage insurance. We show that combining RMs with insurance against a forced home sale (e.g. due to a move to a nursing home) is Pareto improving and can lead to increased demand for the loans due to product complementarities.

scholarly journals Optimal Retirement Asset Decumulation Strategies: The Impact of Housing Wealth

2008 ◽  
Vol 3 (1) ◽  
Author(s):  
Wei Sun ◽  
Robert K. Triest ◽  
Anthony Webb
Keyword(s):  
Housing Wealth ◽  
Asset Decumulation ◽  
The Impact

Tobacco cessation and household spending on non-tobacco goods: results from the US Consumer Expenditure Surveys

2017 ◽  
Vol 27 (2) ◽  
pp. 209-216 ◽  
Author(s):  
Erin S Rogers ◽  
Dhaval M Dave ◽  
Alexis Pozen ◽  
Marianne Fahs ◽  
William T Gallo
Keyword(s):  
Tobacco Cessation ◽  
Fourth Quarter ◽  
Consumer Expenditure ◽  
Full Sample ◽  
Food Away From Home ◽  
Household Spending ◽  
The Impact ◽  
Income Quartile ◽  
At Home

ObjectivesTo estimate the impact of tobacco cessation on household spending on non-tobacco goods in the USA.MethodsUsing 2006–2015 Consumer Expenditure Survey data, 9130 tobacco-consuming households were followed for four quarters. Households were categorised during the fourth quarter as having: (1) recent tobacco cessation, (2) long-term cessation, (3) relapsed cessation or (4) no cessation. Generalised linear models were used to compare fourth quarter expenditures on alcohol, food at home, food away from home, housing, healthcare, transportation, entertainment and other goods between the no-cessation households and those with recent, long-term or relapsed cessation. The full sample was analysed, and then analysed by income quartile.ResultsIn the full sample, households with long-term and recent cessation had lower spending on alcohol, food, entertainment and transportation (p<0.001). Recent cessation was further associated with reduced spending on food at home (p<0.001), whereas relapsed cessation was associated with higher spending on healthcare and food away from home (p<0.001). In the highest income quartile, long-term and recent cessations were associated with reduced alcohol spending only (p<0.001), whereas in the lowest income quartile, long-term and recent cessations were associated with lower spending on alcohol, food at home, transportation and entertainment (p<0.001).ConclusionsHouseholds that quit tobacco spend less in areas that enable or complement their tobacco cessation, most of which may be motivated by financial strain. The most robust association between tobacco cessation and spending was the significantly lower spending on alcohol.

MEANS-TESTED AGE PENSIONS AND HOMEOWNERSHIP: IS THERE A LINK?

2012 ◽  
Vol 17 (6) ◽  
pp. 1281-1310 ◽  
Author(s):  
Sang-Wook (Stanley) Cho ◽  
Renuka Sane
Keyword(s):  
Portfolio Choice ◽  
Capital Accumulation ◽  
Pension Scheme ◽  
Housing Wealth ◽  
Welfare Programs ◽  
Housing Investment ◽  
Australian Economy ◽  
Fiscal Balance ◽  
Set Up ◽  
The Impact

Although several targeted welfare programs across the world have made owner-occupied housing exempt from the means test, relatively little is known about the impact of such exemption on portfolio choice and consumption. We study the Australian age pension scheme and argue that current uncapped exemption may lead to distortionary incentives for high levels of housing wealth to be sheltered from the means test. We set up a life-cycle model with explicit housing choice and borrowing constraints to match some key features of the Australian economy. We find that abolishing the exemption of owner-occupied housing in the assets test increases aggregate output, capital accumulation, and welfare, but decreases housing investment and homeownership. However, removing such distortions does not necessarily imply that all households would be better off. Lowering taxes to maintain fiscal balance would result in wealthy households experiencing a large welfare loss, whereas the majority of the population would benefit.

scholarly journals Impact Evaluation Program Keluarga Harapan (PKH) On Household Expenditure For Education in Java

2021 ◽  
pp. 75
Author(s):  
Yunindyo Sasmito
Keyword(s):  
Developed Countries ◽  
Conditional Cash Transfer ◽  
Cash Transfer ◽  
Household Expenditure ◽  
Analysis Method ◽  
Education Expenditure ◽  
Household Spending ◽  
Propensity Score Matching Analysis ◽  
The Impact ◽  
Cycle Of Poverty

Poverty becomes a global problem including developing countries and developed countries. To overcome the problem of poverty, various countries have implemented poverty alleviation programs in the form of a Conditional Cash Transfer (CCT) policy package. In Indonesia, the CCT program is named PKH. This program requires prerequisites (health and education) to program recipients to get out of the cycle of poverty. This study aims to determine the impact of PKH on household spending on education in Java using IFLS 5 data in 2014. This study uses the Propensity Score Matching analysis method. Previous research shows that PKH in Indonesia has no significant impact on total household expenditure on education. By dividing the components of education expenditure, this paper has successfully demonstrated the significant impact of increasing total education expenditure in the household by IDR 1,031,963.53 per year. The increase also occurred in the total transportation costs of IDR 603,085.86. While the total education expenditure outside the household for PKH recipients declined by IDR 277,475.49 per year.

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