that temporary fluctuations of the U.S. consumption-wealth ratio predict excess returns on international stock markets …

This paper studies the signalling effect of the consumption-wealth ratio (cay) on German stock returns via vector error … wealth growth and U.S. income growth significantly. …

This paper examines the association between stock market return expectations and financial wealth holdings of older … of positive stock market return were positively associated with greater financial wealth holdings among households. Our … financial wealth holdings of households. African Americans, Hispanics, and other races were negatively associated with the …