单词 | wealth effect |
释义 | wealth effectwealth effectwealth effectWealth effectwealth effectwealth effectthe effect on current CONSUMPTION of changes in a person's WEALTH, in particular changes in the prices of owner-occupied houses. Rapid increases in property values may encourage property owners to spend more on current consumption, either out of current DISPOSABLE INCOME or on CREDIT;conversely, falling property prices may serve to reduce property owners‘wealth and cause them to curtail their current consumption. See CONSUMPTION FUNCTION. |
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