WorldCat Identities

Muellbauer, John

Overview
Works: 163 works in 436 publications in 2 languages and 2,393 library holdings
Roles: Author, Contributor, Editor, Thesis advisor
Classifications: HB801, 658.834
Publication Timeline
.
Most widely held works by John Muellbauer
Economics and consumer behavior by Angus Deaton( Book )

56 editions published between 1980 and 2009 in English and Undetermined and held by 1,020 WorldCat member libraries worldwide

Analisi: CONSUMO. Teoria del consumo. TEORIA ECONOMICA. Microeconomia. LAVORO. In generale
The standard of living by Amartya Sen( Book )

13 editions published between 1987 and 2001 in English and Spanish and held by 557 WorldCat member libraries worldwide

Reconsidering the idea of the standard of living, the author suggests an interpretation in terms of the capabilities and freedoms that states of affairs do or do not allow. His argument is conceptual but it refers to a wide range of examples
Income persistence and macro-policy feedbacks in the United States by John Muellbauer( Book )

10 editions published between 1996 and 1997 in English and held by 30 WorldCat member libraries worldwide

Booms and busts in the UK housing market by John Muellbauer( Book )

12 editions published between 1996 and 1997 in English and held by 27 WorldCat member libraries worldwide

Asymmetries in housing and financial market institutions and EMU by Duncan Maclennan( Book )

7 editions published in 1999 in English and held by 22 WorldCat member libraries worldwide

The housing market and regional commuting and migration choices by Gavin Cameron( Book )

4 editions published in 1998 in English and held by 22 WorldCat member libraries worldwide

Personal and corporate savings in South Africa by Janine Aron( Book )

9 editions published in 2000 in English and held by 22 WorldCat member libraries worldwide

Interest rate effects on output : evidence from a GDP forecasting model for South Africa by Janine Aron( Book )

8 editions published in 2002 in English and held by 21 WorldCat member libraries worldwide

Credit, the stock market and oil : forecasting US GDP by John Muellbauer( Book )

6 editions published in 2001 in English and held by 20 WorldCat member libraries worldwide

The great British housing disaster and economic policy by John Muellbauer( Book )

1 edition published in 1990 in English and held by 20 WorldCat member libraries worldwide

Earnings, unemployment, and housing : evidence from a panel of British regions by Gavin Cameron( Book )

8 editions published between 1999 and 2000 in English and held by 20 WorldCat member libraries worldwide

Household decisions, credit markets and the macroeconomy : implications for the design of central bank models by John Muellbauer( Book )

8 editions published in 2010 in English and held by 20 WorldCat member libraries worldwide

It is widely acknowledged that the recent generation of DSGE models failed to incorporate many of the liquidity and financial accelerator mechanisms revealed in the global financial crisis that began in 2007. This paper complements the papers presented at the 2009 BIS annual conference focused on the role of banks and other financial institutions by analysing the role of household decisions and their interplay with credit conditions and asset prices in the light of empirical evidence. In DSGE models without financial frictions, asset prices are merely a proxy for income growth expectations and play no separate role. On UK aggregate consumption evidence, section 2 of the paper shows this is strongly contradicted by the data, for all possible discount rates and both for a perfect foresight and an empirical rational expectations approach to measuring income expectations. However, an Ando-Modigliani consumption function generalised to include a role for liquidity, uncertainty, time varying credit conditions, wealth and housing collateral effects, as well as income expectations, explains the data well. Section 3 reports new evidence on the striking rejection on aggregate data of the consumption Euler equation central to all DSGE models. Section 4 shows that UK micro evidence is consistent with the generalised Ando-Modigliani model. Section 5 discusses the limitations of recent DSGE models with financial frictions and housing. Section 6 discusses some business cycle implications of amplification mechanisms and non-linearities operating via households and residential construction. It reconsiders econometric methodology appropriate for designing better evidence-based central bank policy models
Financial liberalisation, consumption and debt in South Africa by Janine Aron( Book )

4 editions published in 2000 in English and held by 15 WorldCat member libraries worldwide

South Africa experienced substantial rises in the ratios of consumption and household debt to income from 1983, for which conventional explanations in terms of income, income expectations, interest rates and wealth prove inadequate. This paper emphasizes the role of substantial financial liberalization, which is of interest for two reasons. The first is to help understand South Africa's low saving rate, an endemic problem. The second is that unlike the UK, Scandinavia, Mexico and other countries, South Africa's financial liberalization occurred without an asset price boom, thus illuminating the direct role of financial liberalization. Previous attempts to model financial liberalization are not fully satisfactory. Our methodological innovation is to treat financial liberalization as an unobservable, proxied by a spline function, and entering both consumption and debt equations, which are jointly estimated. We also clarify the multi-faceted effects of financial liberalization on consumption. The comprehensive solved-out consumption function uses our own constructed set of personal wealth estimates at market value and income forecasts from a forecasting equation (allowing underlying macro-fundamentals to enter the model). The empirical results corroborate the theory in the paper, confirming the importance for consumer spending of extensive financial liberalization, of fluctuations in a range of asset values and asset accumulation, and of income expectations. Results suggest that households largely pierce the corporate veil. The paper also throws important light on the monetary policy transmission mechanism in South Africa
Wealth, credit conditions and consumption : evidence from South Africa by Janine Aron( Book )

7 editions published between 2011 and 2012 in English and held by 14 WorldCat member libraries worldwide

There is widespread disagreement about the role of housing wealth in explaining consumption. This paper exploits liquid and illiquid wealth time series from household balance sheet data for South Africa, previously constructed by the authors, to explain fluctuations in the ratios of consumption and household debt to income in South Africa, from 1971 to 2005. The paper emphasizes the role of substantial credit liberalization and of wealth, treating credit conditions as a latent variable with key interactions with drivers of consumption and debt. Credit conditions are proxied by a spline function entering jointly estimated consumption, debt and income expectations equations in a 'latent interactive variable equation system' (LIVES). The empirical results corroborate the theory in the paper, confirming that consumption relative to income is driven by credit liberalization, fluctuations in a range of asset values and asset accumulation, uncertainty and income expectations, inter alia. The paper confirms a collateral interpretation of housing wealth on consumption as opposed to a life-cycle interpretation. The paper also throws important light on the monetary policy transmission mechanism in South Africa
Estimates of personal sector wealth for South Africa by Janine Aron( Book )

6 editions published in 2004 in English and held by 13 WorldCat member libraries worldwide

Forecasting (and explaining) US business cycles by John Muellbauer( Book )

5 editions published in 2004 in English and held by 12 WorldCat member libraries worldwide

Was there a British house price bubble? : evidence from a regional panel by Gavin Cameron( Book )

6 editions published in 2006 in English and held by 12 WorldCat member libraries worldwide

This paper investigates the bubbles hypothesis with a dynamic panel data model of British regional house prices between 1972 and 2003. The model consists of a system of inverted housing demand equations, incorporating spatial interactions and lags and relevant spatial parameter heterogeneity. The results are data consistent, with plausible long-run solutions and include a full range of explanatory variables. Novel features of the model include transaction cost effects influencing the speed of adjustment, and interaction effects between an index of credit availability and real and nominal interest rates. No evidence for a recent bubble is found
Review of monetary policy in South Africa: 1994-2004 by Janine Aron( Book )

5 editions published in 2006 in English and held by 12 WorldCat member libraries worldwide

A study in structural change : relative earnings in Wales since the 1970s by Gavin Cameron( Book )

8 editions published between 2000 and 2001 in English and held by 11 WorldCat member libraries worldwide

The Welsh economy has undergone rapid structural change in recent years. This paper uses data from the New Earnings Survey to examine how earnings in Wales changed relative to those of Great Britain between 1975 and 1994. There are five main findings. First, earnings of workers in Wales have declined relative to those in Great Britain. Second, the shift away from full-time men has been an important factor in the fall in average relative earnings. Third, the decline in the relative earnings of full-time men is mostly explained by falling relative earnings in construction, distribution, and transport, as well as the failure of workers in banking and financial services in Wales to keep up with their counterparts in Great Britain. Fourth, the shift in full-time employment to health, education and other services has tended to support relative earnings. Fifth, the decline in full-time men's earnings seem to be an equilibrium phenomenon that will not naturally reverse itself
Some issues in modeling and forecasting inflation in South Africa by Janine Aron( Book )

9 editions published in 2009 in English and held by 10 WorldCat member libraries worldwide

Inflation targeting central banks will be hampered without good models to assist them to be forward-looking. Many current inflation models fail to forecast turning points adequately, because they miss key underlying long-run influences. The world is on the cusp of a dramatic turning point in inflation. If inflation falls rapidly, such models can underestimate the speed at which interest rates should fall, damaging growth. Our forecasting models for the new measure of producer price inflation suggest methodological lessons, and build in conflicting pressures on SA inflation from exchange rate depreciation, terms of trade shocks, collapsing oil, food and other commodity prices, and other shocks. Our US and SA forecasting models for consumer price inflation underline the methodological points, and suggest the usefulness of thinking about sectoral trends. Finally, we apply the sectoral approach to understanding the monetary policy implications of introducing a new CPI measure in SA that uses imputed rents rather than interest rates to capture housing costs
 
moreShow More Titles
fewerShow Fewer Titles
Audience Level
0
Audience Level
1
  Kids General Special  
Audience level: 0.59 (from 0.49 for Economics ... to 0.89 for Credit, th ...)

Economics and consumer behavior
Alternative Names
Muellbauer, J.

Muellbauer, John N.

Muellbauer, John N. J.

Languages
English (189)

Spanish (2)

Covers
The standard of living