English, Article, Journal or magazine article edition: Wealth effects in emerging market economies. Tuomas A. Peltonen; Ricardo M. Sousa; Isabel S. Vansteenkiste

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Bookmark: http://trove.nla.gov.au/version/66710
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Wealth effects in emerging market economies.
Author
  • Tuomas A. Peltonen
  • Ricardo M. Sousa
  • Isabel S. Vansteenkiste
Physical Description
  • preprint
Notes
  • We build a panel of 14 emerging economies to estimate the magnitude of housing, stock market, and money wealth effects on consumption. Using modern panel data econometric techniques and quarterly data for the period 1990/​1-2008/​2, we show that; (i) wealth effects are statistically significant and relatively large in magnitude; (ii) housing wealth effects tend to be smaller for Asian emerging markets while stock markets wealth effects are, in general, smaller for Latin American countries; (iii) housing wealth effects have increased for Asian countries in recent years; and (iv) consumption reacts stronger to negative than to positive shocks in housing and financial wealth.
  • RePEc:nip:nipewp:4/​2009
  • We build a panel of 14 emerging economies to estimate the magnitude of housing, stock market, and money wealth effects on consumption. Using modern panel data econometric techniques and quarterly data for the period 1990/​1-2008/​2, we show that; (i) wealth effects are statistically significant and relatively large in magnitude; (ii) housing wealth effects tend to be smaller for Asian emerging markets while stock market wealth effects are, in general, smaller for Latin American countries; (iii) housing wealth effects have increased for Asian coutries in recent years; and (iv) consumption reacts stronger to negative than to positive shocks in housing and financial wealth. JEL Classification: E21, E44, D12.
  • Wealth effects, consumption, emerging markets.
  • RePEc:ecb:ecbwps:200901000
Language
  • English
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