Conspicuous consumption and household indebtedness

  title={Conspicuous consumption and household indebtedness},
  author={Kwan Ok Lee and Masaki Mori},
  journal={Real Estate Economics},
  • K. Lee, M. Mori
  • Published 21 November 2019
  • Economics
  • Real Estate Economics
Using a novel, large dataset of consumer transactions in Singapore, we study how conspicuous consumption affects household indebtedness. The coexistence of private housing (condominiums) and subsidized public housing (HDB) allows us to identify conspicuous consumers. Conditional on income and other socioeconomic characteristics, those who choose to reside in condominiums – considered a status good in Singapore – are likely to be more conspicuous than their counterparts living in HDB units. We… 

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