Wealth Effects and the New Economy

Wealth Effects and the New Economy
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 found that the impact from changes in old economy stock valuations on consumption is in general larger in the United States, Canada,... READ MORE...

Publication date: May 2001
ISBN 9781451849998
$15.00

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