Name: Finance and Economics Discussion Series: Consumer Sentiment and the Stock Market (en Inglés)
SKU: 59868676
Price: 337.98 MXN
Availability: InStock
Author: Otto, Mary Ward ; United States Federal Reserve Board
ISBN: 9781288717828

portada Finance and Economics Discussion Series: Consumer Sentiment and the Stock Market (en Inglés)

Finance and Economics Discussion Series: Consumer Sentiment and the Stock Market (en Inglés)

Formato

Libro Físico

Autor

United States Federal Reserve Board

Mary Ward Otto

Editorial

Bibliogov

Idioma

Inglés

N° páginas

Encuadernación

Tapa Blanda

Dimensiones

24.6x18.9x0.1 cm

Peso

0.06 kg.

ISBN13

9781288717828

Categorías

Política y gobierno

Finance and Economics Discussion Series: Consumer Sentiment and the Stock Market (en Inglés)

United States Federal Reserve Board (Autor) · Mary Ward Otto (Autor) · Bibliogov · Tapa Blanda

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Reseña del libro "Finance and Economics Discussion Series: Consumer Sentiment and the Stock Market (en Inglés)"

This paper examines the relationship between movements in consumer sentiment and stock prices. At the aggregate level, the two share a strong contemporaneous relationship: an increase in equity values boosts sentiment. However, I examined the nature of the relationship between the two. Does an increase in stock prices raise aggregate sentiment because people are wealthier or because they use movements in stock prices as an indicator of future economic activity and potential labor income growth? Using individual observations from the Michigan survey I found results more consistent with the view that people use movements in equity prices as a leading indicator. Although the findings do not rule out a traditional wealth effect, they do raise some questions about the causal role of wealth in aggregate spending.