Stock Market Wealth and Consumption

By J. Poterba. 2000

737 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/d7916f6f13e4b28b38b8b4dac841e3a15e3131ef

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

In Economics and Econometrics

In Finance

Citations in the corpus

The stock market and consumer confidence: European evidence (2002, background): “The second reason is 1 See, for instance, Poterba (2000), Boone, Giorno and Richardson (1998), Barnett and Sakellaris (1998) and Bernanke, Gertler and Gilchrist (1998).”
Stock Market Returns and Consumption (2020, positive): “This finding is consistent with life cycle models such as Gourinchas and Parker (2002), where 6 See Baker et al. (2007) for a comprehensive discussion on the inconsistency of this result with a fully rational model.”
The effects of financial and real wealth on consumption: new evidence from OECD countries (2012, background): “In summarizing this literature, Poterba ( 2000 ) concluded that the marginal propensity to consume out of the stock market is between 0.”
Luxury Goods and the Equity Premium (2004, neutral): “By doing so, we are by definition measuring consumption of very expensive luxuries, which answers the first concern.”
Stock Market Wealth and the Real Economy: A Local Labor Market Approach (2019, background): “The recent literature has tried to address these challenges in various ways (see Poterba (2000) for a survey of the earlier literature).”
Monetary policy and asset prices (2002, background): “Kiyotaki and Moore ( 1997 ) provide another mechanism by which aggregate activity may affect net worth and hence investment .”
Art and Money (2011, neutral): “Poterba (2000) argues that one would expect the strongest relationsh p between consumption and asset prices among the cohort households that own the majority of all stocks.”
Wealth Effects on Consumption - Evidence from the Euro Area (2009, neutral): “In fact, the responsiveness of consumers to financial and housing asset shocks can be different: bequest motives (Poterba, 2000), different distributions of assets across income groups, expected permanency of changes of different categories of assets, liquidity reasons (Pissarides, 1978),…”
Consumption asymmetry and the stock market: Empirical evidence (2006, neutral): “data (see also Parker, 1999; Poterba, 2000; Starr-McCluer, 2002).”
How does fiscal policy react to wealth composition and asset prices (2012, neutral): “[59] Poterba, J.”
Does Stock Market Wealth Matter for Consumption (2001, background): “11 Poterba (2000) finds that the implied marginal propensity to consume ranges between 2-1/2 percent and 10 percent for different values of r and T - t. Starr-McCluer (2000) calculates that the marginal propensity to consume for an average stockholder would be 0.033.”