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Stock prices and consumption: A new variable in the consumption function?
| Title: | Stock prices and consumption: A new variable in the consumption function?. |
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| Name(s): |
Kinney, Timothy P. Florida Atlantic University, Degree grantor Yuhn, Ky-hyang, Thesis advisor |
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| Type of Resource: | text | |
| Genre: | Electronic Thesis Or Dissertation | |
| Date Issued: | 1997 | |
| Publisher: | Florida Atlantic University | |
| Place of Publication: | Boca Raton, Fla. | |
| Physical Form: | application/pdf | |
| Extent: | 90 p. | |
| Language(s): | English | |
| Summary: | This thesis examines the significance of the real interest rate and stock prices as explanatory variables in the aggregate consumption function. This study applies the methodologies of OLS regression analysis and tests of cointegration to examine the relationship between stock prices and consumption. The empirical results suggest that stock prices are a significant factor in the modified aggregate consumption function. Consumers, perceiving stock prices to be an indicator of their wealth, are making more expenditures on durable goods as they perceive increases in stock values to be permanent. Finally, the results of the tests for cointegration suggest that there is no long-run equilibrium relationship between stock prices and consumption. | |
| Identifier: | 9780591625059 (isbn), 15504 (digitool), FADT15504 (IID), fau:12268 (fedora) | |
| Collection: | FAU Electronic Theses and Dissertations Collection | |
| Note(s): |
College of Business Thesis (M.A.)--Florida Atlantic University, 1997. |
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| Subject(s): |
Consumption (Economics) Stocks--Prices |
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| Held by: | Florida Atlantic University Libraries | |
| Persistent Link to This Record: | http://purl.flvc.org/fcla/dt/15504 | |
| Sublocation: | Digital Library | |
| Use and Reproduction: | Copyright © is held by the author, with permission granted to Florida Atlantic University to digitize, archive and distribute this item for non-profit research and educational purposes. Any reuse of this item in excess of fair use or other copyright exemptions requires permission of the copyright holder. | |
| Use and Reproduction: | http://rightsstatements.org/vocab/InC/1.0/ | |
| Host Institution: | FAU | |
| Is Part of Series: | Florida Atlantic University Digital Library Collections. |
