Over the past decade household saving rates have been falling in some OECD countries, and the declines appear to correlate with large capital gains and rapid financial innovation. This empirical investigation indicates that gains in the valuation of asset holdings have indeed been important as a substitute for traditional household saving in these countries.

Over the past few years, developments in housing prices have been of significant concern to policy-makers in many countries. But measurement problems make it difficult to assess developments accurately with the available data. This article summarises research on the measurement of aggregate housing prices, and uses data for Sydney and Melbourne to demonstrate alternative methods.

This paper uses household-level data to examine what determines the ownership of residential property and the holding of property debt by households in Australia.

This paper addresses the question of how changes in stock market wealth and housing wealth affect consumption expenditure in Australia. We approach the problem using a panel of Australian states, for which we construct data on housing and stock market wealth.