smoking, binge drinking, and fatal car accidents involving alcohol. These results are consistent with predictions from … rational addiction models and have implications for research on the association between consumption and stock prices. …

the dynamics of real economic activity, namely, of private consumption. In this work, the role of stock market as a … determinant of private consumption is analyzed, namely, by the consideration of wealth effects. It is also analyzed the potential …-run dynamics is analyzed with the estimation of a single equation, suggesting that consumption contemporaneously answers to changes …