• Read the new Aron and Muellbauer paper on Housing Wealth, Credit Conditions and Consumption, which models consumption in the UK and South Africa.

  • Details of the Aron and Muellbauer study and a review of our related work on consumption, credit and housing wealth are presented here.

  • Their paper uses the Credit Conditions Index (CCI) constructed by Emilio Fernandez-Corugedo and John Muellbauer in Consumer Credit Conditions in the United Kingdom (revised version).