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.
|Number of pages||10|
|Journal||Empirical economics letters|
|Publication status||Published - 2014|
- Stock Market
- Error Correction Models