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This paper quantifies the different impact of stock and house prices on consumption using data for 16 OECD countries. The analysis finds that the long-run impact of an increase in stock prices and house prices is in general higher in countries with a market-based financial system. The...
Persistent link: https://www.econbiz.de/10014400053
Abstract This paper analyzes the relationship between stock prices, house prices and consumption using data for 16 OECD countries. The panel data analysis suggests that the long-run responsiveness of consumption to permanent changes in stock prices is higher for countries with a market-based...
Persistent link: https://www.econbiz.de/10014588356
Persistent link: https://www.econbiz.de/10004817717
This paper analyzes the relationship between stock prices, house prices and consumption using data for 16 OECD countries. The panel data analysis suggests that the long-run responsiveness of consumption to permanent changes in stock prices is higher for countries with a market-based financial...
Persistent link: https://www.econbiz.de/10005585822
Persistent link: https://www.econbiz.de/10001654370
Persistent link: https://www.econbiz.de/10001965125
This paper quantifies the different impact of stock and house prices on consumption using data for 16 OECD countries. The analysis finds that the long-run impact of an increase in stock prices and house prices is in general higher in countries with a market-based financial system. The...
Persistent link: https://www.econbiz.de/10013317987
Persistent link: https://www.econbiz.de/10013443181
This paper uses new data and new econometric techniques to investigate the impact of international financial integration on economic growth and also to assess whether this relationship depends on the level of economic development, financial development, legal system development, government...
Persistent link: https://www.econbiz.de/10014399567
This paper reviews and discusses issues involved in assessing the relationship between capital account liberalization and economic performance. First, it discusses the different measures of restrictions used in the literature. Second, it reviews the literature on the relationship between growth...
Persistent link: https://www.econbiz.de/10014399574