| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5083087 | International Review of Economics & Finance | 2017 | 20 Pages |
Abstract
The empirical results show that the direct wealth effect is modest, but asset price fluctuations have important effects on future output expectations. Through this expectational channel, shocks in the stock market can account for a large, but varying, portion of output fluctuations.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Fabio Milani,