Fichtner, Ferdinand; Joebges, Heike - 2024 - This version: 2023-10-06
relationship between stock prices and GDP remains fairly unstable, with stronger evidence for a link in more recent periods of our … sample. All in all, we find the long-run effect of a permanent one-percent change of stock prices on GDP to be around 0 … despite theoretical arguments suggesting a long-term relationship. Previous studies indicate that the link between stock …