The effects of stock market movements on consumption and investment
Subtitle: does the shock matter?
By: by Stephen Millard and John Power.
Contributors: Power, John, 1975-; Bank of England.
Series: Working paper,; no. 236; Working paper (Bank of England : Online) ;; no.236.
Publisher: Bank of England
Published: 2004
Place of publication: London
Language: eng
Format: Electronic resource
Subjects: Stocks -- Prices -- Econometric models.; Consumption (Economics) -- Econometric models.; Investments -- Econometric models.
Description: "This paper uses a simple model to examine the links between equity price movements and consumption and investment. Generally, the effect of a given movement in equity prices on consumption depends on the underlying source of the shock to equity prices, and some empirical evidence is presented that supports this. Furthermore, in the model the effect of a given movement in equity prices on investment does not depend on the source of the shock. However, some theoretical arguments and empirical evidence are provided to suggest that it might in the real world"--Bank of England web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 4/7/2005.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.