3月23日双周论坛

【本期主题】The Impact of House Price Movements on
Non-durable Goods Consumption of Older Households






Using Health and Retirement Study (HRS) data, this paper investigates the impact of house
price movements on non-durable goods consumption of older homeowners. We find house
price appreciations significantly boost non-durable goods consumption of older households,
especial the spending on dining and drinking out. In addition, we estimate a higher marginal
elasticity of house price gains on credit constrained households, indicating some of them
borrow against the additional home equity to finance their additional non-durable goods
consumption. Finally, we show evidence that households behave asymmetrically when facing
housing price gains and losses.

【报告人】孙伟

汉青经济与金融高级研究院  助理教授
                   美国波士顿大学

经济学博士
【时  间】03月23日中午12:00
【地  点】明德主楼610
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报告人简介：
孙伟博士在美国波士顿大学取得经济学博士、美国博林格林州立大学经济学硕士、对外经济贸易大学金融学学士。他的科研方向主要着重公共经济学,金融经济学。

财政金融学院

梁晶工作室