Given the relatively low official saving rate, rapid rise in housing price and high ownership of property in Australia in last decade, the question naturally arises whether increases in house prices over the last decade ramped up property investment and hence crowded out traditional household saving. If yes, then the over-spending which traditional measures of savings suggest might be less of an issue since Australians might have saved in their property. In this paper, we attempt to answer these questions using HILDA panel data and aggregate macroeconomic data.
|Title of host publication||Annual Conference of Economists (ACE10)|
|Place of Publication||New South Wales, Australia|
|Publisher||Economic Society of Australia|
|Number of pages||25|
|Publication status||Published - 2010|
|Event||ACE10: 39th Australian Conference of Economists - Sydney, Australia|
Duration: 27 Sep 2010 → 29 Sep 2010
|Conference||ACE10: 39th Australian Conference of Economists|
|Period||27/09/10 → 29/09/10|
Gong, C., & Kelly, S. (2010). Overspending or saving in property, do different measures of saving matter in Australia? In Annual Conference of Economists (ACE10) (pp. 1-25). New South Wales, Australia: Economic Society of Australia.