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Search name	Searched On	Run search
[in Journal: Modern Physics Letters B] AND [Keyword: Baidu Index] (1)	27 Mar 2025	Run
[in Journal: China Economic Policy Review] AND [Keyword: Consumption] (1)	27 Mar 2025	Run
[in Journal: Asia-Pacific Biotech News] AND [Keyword: Researchers] (4)	27 Mar 2025	Run
[in Journal: Journal of Business and Economic Analysis] AND [Keyword: Outsourcing] (2)	27 Mar 2025	Run
[in Journal: Transformations in Banking, Finance and Regulation] AND [Keyword: Outs... (1)	27 Mar 2025	Run

articleNo Access
How May Consumption be Affected by Housing and Financial Assets in China and the Euro Countries?
- Yaowu Yang and
- Chengyu Yang
China Economic Policy Review01 Dec 2014
Preview Abstract
This paper uses samples of household data from Chinese Family Panel Studies (CFPS) and Eurosystem Household Finance and Consumption Survey (HFCS) to estimate the consumption effects of both housing and financial assets. Our results show that components of household wealth have different impacts on consumption. The estimated housing asset elasticity of consumption is larger than financial asset elasticity of consumption both in China and Euro countries. By analyzing the wealth effect of housing in different age groups, we found that the wealth effect of housing and financial assets on consumption is larger for elderly families than for younger families in the Eurozone, but opposite result is obtained in China.

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