Series: IMF Working Papers
Author(s): Torsten Sloek , and Hali Edison
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 May 2001
Keywords: Wealth effects, new economy, stock markets in the 1990s, stock market, stock market capitalization, stock options, stock prices, stock ownership, Macroeconomics: Consumption, Saving
This paper investigates if there is a different impact from changes in "new" and "old" economy stock valuations on private consumption. Estimating a reduced-form VAR for seven OECD countries for the 1990s, it is fo...