Do fluctuations in stock market value have asymmetric effects on consumption? Evidence for US

Bahram Adrangi, Joseph Macri

Research output: Contribution to journalArticlepeer-review

Abstract

A large number of studies have investigated changes in stock market value on consumption expenditure and have attempted to identify and quantify the magnitude of the 'wealth effect'. Many of these studies have assumed the impact on consumption expenditure from changes in stock market value to be symmetric. The objective of this study is to investigate whether changes in stock market value influences consumption expenditure asymmetrically for the US.
Original languageEnglish
Pages (from-to)871-880
Number of pages10
JournalEmpirical economics letters
Volume13
Issue number8
Publication statusPublished - 2014

Keywords

  • Consumption
  • Wealth
  • Stock Market
  • Error Correction Models

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