EconPapers    
Economics at your fingertips  
 

Consumption Asymmetry and the Stock Market: Empirical Evidence

Nicholas Apergis () and Stephen Miller

No 2004-43, Working papers from University of Connecticut, Department of Economics

Abstract: 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'.

Keywords: Consumption; Stock market; Wealth effect; Asymmetry (search for similar items in EconPapers)
JEL-codes: E21 E44 (search for similar items in EconPapers)
Pages: 14 pages
Date: 2004-10, Revised 2006-04
New Economics Papers: this item is included in nep-fin, nep-fmk and nep-mac
Note: The authors express special thanks to Angelos Antzoulatos, Georgios Karras, and Plutarchos Sakellaris for their comments on an earlier draft. Nonetheless, the usual disclaimer applies.
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (91)

Published in Economics Letters, December 2006

Downloads: (external link)
https://media.economics.uconn.edu/working/2004-43r.pdf Full text (revised version) (application/pdf)

Related works:
Journal Article: Consumption asymmetry and the stock market: Empirical evidence (2006) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:uct:uconnp:2004-43

Access Statistics for this paper

More papers in Working papers from University of Connecticut, Department of Economics University of Connecticut 365 Fairfield Way, Unit 1063 Storrs, CT 06269-1063. Contact information at EDIRC.
Bibliographic data for series maintained by Mark McConnel ().

 
Page updated 2025-03-23
Handle: RePEc:uct:uconnp:2004-43