Series: IMF Working Papers
Author(s): Torsten Sloek , and Hali Edison
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 May 2001
Keywords: real investment, new economy, stock market, stock market capitalization, stock valuations, stock prices, Macroeconomics: Consumption, Saving, Production, Employment
This paper investigates whether there is a different impact from changes in "new" and "old" economy stock valuations on private investment for seven OECD economies. A vector autoregressive model is estimated for ea...