LEADER 05532oam  22013214  450 
001 9910788518903321
005 20230828232543.0
010   $a1-4623-7099-3
010   $a1-4527-2290-0
010   $a1-282-59008-1
010   $a9786613822581
010   $a1-4519-8492-8
035   $a(CKB)3360000000443293
035   $a(EBL)3014485
035   $a(SSID)ssj0000941842
035   $a(PQKBManifestationID)11502210
035   $a(PQKBTitleCode)TC0000941842
035   $a(PQKBWorkID)10971817
035   $a(PQKB)10464861
035   $a(OCoLC)694141164
035   $a(MiAaPQ)EBC3014485
035   $a(IMF)WPIEE2006162
035   $a(EXLCZ)993360000000443293
100   $a20020129d2006      uf             0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 10$aIs Housing Wealth An 'ATM'? the Relationship Between Household Wealth, Home Equity withdrawal, and Saving Rates /$fVladimir Klyuev, Paul Mills
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2006.
215   $a1 online resource (27 p.)
225 1 $aIMF Working Papers
300   $a"June 2006."
311   $a1-4518-6422-1 
320   $aIncludes bibliographical references.
327   $a""Contents""; ""I. INTRODUCTION""; ""II. HAVE SAVING RATES REALLY FALLEN?""; ""III. LIKELY IMPACT OF FINANCIAL INNOVATION AND LIBERALIZATION ON HOME EQUITY WITHDRAWAL ( HEW) AND SAVING""; ""IV. TRENDS IN HEWAND HOUSEHOLD SAVING ACROSS COUNTRIES""; ""V. HOW DOES HEW AFFECT HOUSEHOLD SAVING?""; ""VI. ECONOMETRIC ANALYSIS""; ""VII. RECENT EXPERIENCE OF HEW IN AUSTRALIA AND UNITED KINGDOM: IMPLICATIONS FOR UNITED STATES?""; ""VIII. CONCLUSIONS""; ""APPENDIX""; ""I. FINANCIAL LIBERALIZATION AND MORTGAGE PRODUCT INNOVATION""; ""II. DATA ISSUES""; ""References""
330 3 $aThis paper examines the role increasing personal wealth and home equity withdrawal (HEW) have had in the decline in the personal saving rate in the United States. It does so by comparing the U.S. experience with those of Australia, Canada, and the United Kingdom. Mortgage market liberalization and innovation should reduce household cash flow and collateral constraints while making housing wealth more liquid as HEW becomes easier over time. Regression analysis indicates the expected negative relationship between U.S. saving and net worth, with a somewhat smaller coefficient than in previous studies. HEW is estimated to have a temporary negative impact on saving of the order of 20 cents on the dollar.
410  0$aIMF Working Papers; Working Paper ;$vNo. 2006/162
606   $aHome equity conversion$zUnited States
606   $aSaving and investment$zUnited States
606   $aInfrastructure$2imf
606   $aInvestments: Stocks$2imf
606   $aMacroeconomics$2imf
606   $aReal Estate$2imf
606   $aIndustries: Financial Services$2imf
606   $aMacroeconomics: Consumption$2imf
606   $aSaving$2imf
606   $aWealth$2imf
606   $aBanks$2imf
606   $aDepository Institutions$2imf
606   $aMicro Finance Institutions$2imf
606   $aMortgages$2imf
606   $aEconomic Development: Urban, Rural, Regional, and Transportation Analysis$2imf
606   $aHousing$2imf
606   $aPension Funds$2imf
606   $aNon-bank Financial Institutions$2imf
606   $aFinancial Instruments$2imf
606   $aInstitutional Investors$2imf
606   $aHousing Supply and Markets$2imf
606   $aFinance$2imf
606   $aInvestment & securities$2imf
606   $aProperty & real estate$2imf
606   $aStocks$2imf
606   $aConsumption$2imf
606   $aHousing prices$2imf
606   $aFinancial institutions$2imf
606   $aNational accounts$2imf
606   $aPrices$2imf
606   $aSaving and investment$2imf
606   $aEconomics$2imf
607   $aUnited States$2imf
615  0$aHome equity conversion
615  0$aSaving and investment
615  7$aInfrastructure
615  7$aInvestments: Stocks
615  7$aMacroeconomics
615  7$aReal Estate
615  7$aIndustries: Financial Services
615  7$aMacroeconomics: Consumption
615  7$aSaving
615  7$aWealth
615  7$aBanks
615  7$aDepository Institutions
615  7$aMicro Finance Institutions
615  7$aMortgages
615  7$aEconomic Development: Urban, Rural, Regional, and Transportation Analysis
615  7$aHousing
615  7$aPension Funds
615  7$aNon-bank Financial Institutions
615  7$aFinancial Instruments
615  7$aInstitutional Investors
615  7$aHousing Supply and Markets
615  7$aFinance
615  7$aInvestment & securities
615  7$aProperty & real estate
615  7$aStocks
615  7$aConsumption
615  7$aHousing prices
615  7$aFinancial institutions
615  7$aNational accounts
615  7$aPrices
615  7$aSaving and investment
615  7$aEconomics
700   $aKlyuev$b Vladimir$01462057
701   $aMills$b Paul$01462058
712 02$aInternational Monetary Fund.$bInternational Capital Markets Dept.
712 02$aInternational Monetary Fund.$bWestern Hemisphere Dept.
801  0$bDcWaIMF
906   $aBOOK
912   $a9910788518903321
996   $aIs Housing Wealth An 'ATM'? the Relationship Between Household Wealth, Home Equity withdrawal, and Saving Rates$93670912
997   $aUNINA