Using permanent income life-cycle theory, I analyze the effects of liquidity constraints on the household’s ability to smooth life time consumption due to a change in housing and stock market wealth. Using data from the Canadian national accounts and chartered bank balance sheets I test if improved access to housing wealth due to fundamental shifts to the banking industry in the 1980s has lowered liquidity constraints and improved the household’s ability to smooth consumption.
| Identifer | oai:union.ndltd.org:LACETR/oai:collectionscanada.gc.ca:NSHD.ca#10222/13977 |
| Date | 18 July 2011 |
| Creators | Wishart, David |
| Source Sets | Library and Archives Canada ETDs Repository / Centre d'archives des thèses électroniques de Bibliothèque et Archives Canada |
| Language | English |
| Detected Language | English |
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