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United States, reflecting the importance of equities in aggregate household wealth in these countries. A significant wealth … effect is also evident in Japan, but because household wealth has changed little on balance in Japan in recent years, this … remain a less important form of household wealth in most of these countries, and the consumption response to changes in …
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policy uncertainty affects household consumption and stock prices. The model implies that the government should avoid policy …
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Household investors chase stock market returns. Surveys suggest that households intend to "ride the bubble" by buying …
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We show that the stock market may fail to aggregate information even if it appears to be efficient, and that the resulting decrease in the information content of prices may drastically reduce welfare. We solve a macroeconomic model in which information about fundamentals is dispersed and...
Persistent link: https://www.econbiz.de/10013125571
"We show that the stock market may fail to aggregate information even if it appears to be efficient and that the resulting decrease in the information content of stock prices may drastically reduce welfare. We solve a macroeconomic model in which information about fundamentals is dispersed and...
Persistent link: https://www.econbiz.de/10009129717
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