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Title: |
Does Consumption Respond More Strongly to Stock Market Declines Than to
Increases? |
| Author: |
Shirvani,
Hassan; Wilbratte, Barry |
| Author
Affiliation: |
U St Thomas |
| Source: |
International Economic Journal, Autumn 2000, v. 14, no. 3, pp. 41-49 |
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Publication Date: |
Autumn 2000 |
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Abstract: |
This paper provides empirical evidence
that positive and negative wealth effects of stock prices on consumer
expenditures are unequal. For the three largest economies in the world,
stock price declines are found to have a more powerful effect than price
increases. |
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