Riqueza por vivienda de los hogares y sus efectos amplificadores en el consumo
Considering that housing is the main asset for households, it is relevant to study its behavior and the channel through it affects wealth and consumption. This paper analyzes the effects that changes in housing wealth have on aggregate consumption. In the model considered here, houses work as collat...
- Autores:
-
Morales-Mosquera, Miguel Ángel
- Tipo de recurso:
- Article of journal
- Fecha de publicación:
- 2010
- Institución:
- Universidad Católica de Colombia
- Repositorio:
- RIUCaC - Repositorio U. Católica
- Idioma:
- spa
- OAI Identifier:
- oai:repository.ucatolica.edu.co:10983/633
- Acceso en línea:
- http://hdl.handle.net/10983/633
- Palabra clave:
- RIQUEZA DE LOS HOGARES
CONSUMO
MERCADO HIPOTECARIO
RESTRICCIONES DE CRÉDITO
TENENCIA DE VIVIENDA
HOUSING WEALTH
CONSUMPTION
HOUSING MARKET
CREDIT CONSTRAINTS
VIVIENDA-ASPECTOS SOCIOECONOMICOS
ADMINISTRACION FINANCIERA
MERCADO DE CAPITALES
- Rights
- openAccess
- License
- Derechos Reservados - Universidad Católica de Colombia, 2010
| Summary: | Considering that housing is the main asset for households, it is relevant to study its behavior and the channel through it affects wealth and consumption. This paper analyzes the effects that changes in housing wealth have on aggregate consumption. In the model considered here, houses work as collateral and households invest in real state. Thus, the model considers a credit constraint and an adjustment cost on investment, in order to analyze their effect on consumption. We conclude that those households with low adjustment cost on investment and using houses as collateral tend to show higher consumption fluctuations due to the accelerator effect |
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