Kapopoulos, Panayotis; Siokis, Fotios - In: Applied Economics Letters 12 (2005) 2, pp. 125-128
An attempt is made to clarify the relationship between price fluctuations of two major assets in Greece, real estate and stocks. Two mechanisms have been proposed to interpret this relationship. The first one is well known as 'wealth effect', which claims that households with unanticipated gains...