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We attempt to disentangle income and wealth effects on consumption by disaggregating both the...

The recent housing bust has reignited interest in psychological theories of speculative excess...

This paper outlines an operational approach for incorporating the impact of asset price cycles in...

The IMF Research Bulletin, a quarterly publication, selectively summarizes research and...

This Selected Issues paper on the United States examines the effect of the structure of the...

Between 1996 and 2006 the U.S. has experienced an unprecedented boom in house prices. As it has...