Add to ORKGThis paper investigates whether stock market wealth affects real consumption asymmetrically through a threshold adjustment model. The empirical findings for the US show that wealth produces an asymmetric effect on real consumption, with negative 'news' affecting consumption less than positive 'news.' Thus, policy makers may want to focus more attention on preventing asset 'bubbles' than on responding to negative asset shocks.Consumption; Stock market; Wealth effect; Asymmetry
Recent fluctuations of financial markets, especially, stock markets fluctuations, have revived the i...
Abstract This paper examines the role of the consumption-wealth channel in explaining asymmetric ef...
This paper examines the role of the consumption-wealth channel in explaining asymmetric effects of m...
This paper investigates whether stock market wealth affects real consumption asymmetrically through ...
This paper examines whether U.S. stock-market wealth asymmetrically affects consumption. After ident...
This paper investigates the presence of asymmetric effects of stock returns on real consumption in t...
A large number of studies have investigated changes in stock market value on consumption expenditure...
There is a long history of examining the relationship between consumption and wealth. The recent sub...
The linkage between stock market and aggregate consumption has been extensively studied in the conte...
This paper argues that nonlinear adjustment may provide a better explanation of fluctuations in the ...
This paper argues that nonlinear adjustment may provide a better explanation of fluctuations in the ...
This paper provides evidence that wealth in the form of stock ownership affects consumption and that...
How strongly does consumption respond to changes in wealth? Is the response to housing wealth differ...
This paper uses time-series analysis techniques to examine the wealth effects of the stock market in...
The linkage between stock market and aggregate consumption has been extensively studied in the conte...
Recent fluctuations of financial markets, especially, stock markets fluctuations, have revived the i...
Abstract This paper examines the role of the consumption-wealth channel in explaining asymmetric ef...
This paper examines the role of the consumption-wealth channel in explaining asymmetric effects of m...
This paper investigates whether stock market wealth affects real consumption asymmetrically through ...
This paper examines whether U.S. stock-market wealth asymmetrically affects consumption. After ident...
This paper investigates the presence of asymmetric effects of stock returns on real consumption in t...
A large number of studies have investigated changes in stock market value on consumption expenditure...
There is a long history of examining the relationship between consumption and wealth. The recent sub...
The linkage between stock market and aggregate consumption has been extensively studied in the conte...
This paper argues that nonlinear adjustment may provide a better explanation of fluctuations in the ...
This paper argues that nonlinear adjustment may provide a better explanation of fluctuations in the ...
This paper provides evidence that wealth in the form of stock ownership affects consumption and that...
How strongly does consumption respond to changes in wealth? Is the response to housing wealth differ...
This paper uses time-series analysis techniques to examine the wealth effects of the stock market in...
The linkage between stock market and aggregate consumption has been extensively studied in the conte...
Recent fluctuations of financial markets, especially, stock markets fluctuations, have revived the i...
Abstract This paper examines the role of the consumption-wealth channel in explaining asymmetric ef...
This paper examines the role of the consumption-wealth channel in explaining asymmetric effects of m...