...‐Miller. The model allows for distinct impacts from asset inflation, leverage as well as incentives for speculative investments for a central bank that aims to lean against the wind. Design/methodology/approach Framed in terms of the housing market and household behaviour, the paper sets out...

...Steve Swidler; Beverley Searle Purpose The purpose of this paper is to explore the changing role of housing wealth from an investment vehicle to a welfare resource. It also considers the implications of economic prosperity and decline in the UK on homeowners, intentions of equity withdrawal...