This paper compares the effects of real house price and real stock price shocks on consumption decisions in South …, seasonally adjusted South African data on consumption, inflation, real house price, real stock price and the nominal Treasury … bill rate. We find that a positive 1 percent shock in stock prices leads to about 0.05 percent increase in consumption …

key channel is the wealth effect on consumption. Fluctuations in stock prices and housing prices influence the households … wealth and could have important impacts on households consumption. In addition, stock prices may affect corporate sector … investments and property prices may affect building activity. Here, the method of cointegration is used to estimate the wealth …

This paper investigates the nature of the output-employment relationship by using the Turkish quarterly data for the … period from 1988 to 2008. Even though we fail to find a long-run relationship between aggregate output and total employment …, there are long-run relationships for the aggregate output with non-agricultural employment and sectoral employment levels …

This paper investigates the nature of the output-employment relationship by using the Turkish quarterly data for the … period 1988-2008. Even if we fail to find a long-run relationship between aggregate output and total employment, there are … long-run relationships for the aggregate output with non-agricultural employment and sectoral employment levels for seven …