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@article{ART002001468},
author={Chae Subok},
title={The Impact of Household Debt on Housing Wealth Effect: Evidence from Micro Data},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2015},
volume={25},
number={2},
pages={57-70}

TY - JOUR
AU - Chae Subok
TI - The Impact of Household Debt on Housing Wealth Effect: Evidence from Micro Data
JO - Korea Real Estate Review
PY - 2015
VL - 25
IS - 2
PB - korea real estate research institute
SP - 57
EP - 70
SN - 2092-5395
AB - In this paper, we empirically examine how household‘s mortgage debt and house price influenced household consumption. To this end, this study used data on homeowner households collected for 4 years by the National Survey of Tax and Benefit (NSTB) and analyzed the effects of an increase in housing prices and mortgage variables on total consumption expenditures. The analysis results show that housing price has a positive effect, whereas leveraging, which continuously leads to incurred household debt, has a negative one. In addition, an increase in the house price of households whose loan to value ratio continue to increase plays a role in partially reducing the wealth effect. Although debt may temporarily increase household consumption, it can not become a tool for economic revitalization. Because the leveraging can cause a debt-repayment burden.
KW - Mortgage debt;Leveraging;Loan to Value ratio;Wealth effect
DO -
UR -
ER -

Chae Subok. (2015). The Impact of Household Debt on Housing Wealth Effect: Evidence from Micro Data. Korea Real Estate Review, 25(2), 57-70.

Chae Subok. 2015, "The Impact of Household Debt on Housing Wealth Effect: Evidence from Micro Data", Korea Real Estate Review, vol.25, no.2 pp.57-70.

Chae Subok "The Impact of Household Debt on Housing Wealth Effect: Evidence from Micro Data" Korea Real Estate Review 25.2 pp.57-70 (2015) : 57.

Chae Subok. The Impact of Household Debt on Housing Wealth Effect: Evidence from Micro Data. 2015; 25(2), 57-70.

Chae Subok. "The Impact of Household Debt on Housing Wealth Effect: Evidence from Micro Data" Korea Real Estate Review 25, no.2 (2015) : 57-70.

Chae Subok. The Impact of Household Debt on Housing Wealth Effect: Evidence from Micro Data. Korea Real Estate Review, 25(2), 57-70.

Chae Subok. The Impact of Household Debt on Housing Wealth Effect: Evidence from Micro Data. Korea Real Estate Review. 2015; 25(2) 57-70.

Chae Subok. The Impact of Household Debt on Housing Wealth Effect: Evidence from Micro Data. 2015; 25(2), 57-70.

Chae Subok. "The Impact of Household Debt on Housing Wealth Effect: Evidence from Micro Data" Korea Real Estate Review 25, no.2 (2015) : 57-70.