Hidden Bibliographic Details
| Other authors / contributors: | Sløk, Torsten.
International Monetary Fund. Research Department.
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| ISBN: | 1451890133
9781451890136
1462385435
9781462385430
1452713995
9781452713991
1281603147
9781281603142
9786613783837
6613783838
9781451841640
1451841647
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| Notes: | Includes bibliographical references (pages 29-32).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
English.
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | 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 sensitivity of consumption to changes in stock wealth is about twice as large as the sensitivity to changes in housing wealth. Splitting the sample into the 1980s and 1990s shows that both countries with a market-based financial system and countries with a bank-based financial system moved toward a higher degree of responsiveness of consumption to changes in stock prices and house prices.
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| Other form: | Print version: Ludwig, Alexander, 1955- Impact of changes in stock prices and house prices on consumption in OECD countries. [Washington, D.C.] : International Monetary Fund, ©2002
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| Standard no.: | 10.5089/9781451890136.001
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