of housing and stock prices on US consumption over time. We use annual data from 1890 to 2012 and find that over … different horizons and over time, generally the housing price positively affects consumption while the stock price negatively … affects consumption. These opposite responses to changes in housing and stock prices suggest different mechanisms through …

of housing and stock prices on US consumption over time. We use annual data from 1890 to 2012 and find that over … different horizons and over time, generally the housing price positively affects consumption while the stock price negatively … affects consumption. These opposite responses to changes in housing and stock prices suggest different mechanisms through …

of housing and stock prices on US consumption over time. We use annual data from 1890 to 2012 and find that over … different horizons and over time, generally the housing price positively affects consumption while the stock price negatively … affects consumption. These opposite responses to changes in housing and stock prices suggest different mechanisms through …

This paper examines whether U.S. stock-market wealth asymmetrically affects consumption. After identifying asymmetric … behavior for consumption and stock market wealth, the results confirm that stock-market wealth asymmetrically affects real per … capita consumption. Negative 'news' affects consumption more than positive 'news'. …

This paper investigates whether various components of wealth affect real consumption asymmetrically through a threshold … assets, and household net assets exert a practical wealth effect on consumption expenditure. By contrast, financial assets … practical wealth effect on consumption expenditure. In addition, the empirical findings favor the presence of an asymmetric …

This paper investigates whether stock market wealth affects real consumption asymmetrically through a threshold … adjustment model. The empirical findings for the US show that wealth produces an asymmetric effect on real consumption, with … negative 'news' affecting consumption less than positive 'news.' Thus, policy makers may want to focus more attention on …

This paper investigates the presence of asymmetric effects of stock returns on real consumption in the US. After … identifying the asymmetric behavior for consumption as well as the wealth effect, the results confirm that stock returns have an … asymmetric effect on real consumption, with negative 'news' affecting consumption more than positive 'news'. …