Asset Prices and Real Economic Activity:
A survey of the literature on asset price impacts on the real economy shows a much wider range of work on consumption and related wealth effects than on investment. The existence of wealth effects on consumption is little contested, but there remains an issue of whether different effects should hold...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2010
|
| Schriftenreihe: | OECD Economics Department Working Papers
no.764 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | A survey of the literature on asset price impacts on the real economy shows a much wider range of work on consumption and related wealth effects than on investment. The existence of wealth effects on consumption is little contested, but there remains an issue of whether different effects should hold between countries and across assets. There is less empirical work available on investment, partly reflecting poor results for Tobin?s Q, the user cost of capital and the financial accelerator. Panel investment functions for up to 23 OECD countries are estimated. Significant asset price effects from the financial accelerator and Tobin?s Q are found especially for the G7 countries as well as uncertainty effects as proxied by asset price volatility, but they only matter for the smaller OECD countries. |
| Beschreibung: | 1 Online-Ressource (62 p.) 21 x 29.7cm. |
| DOI: | 10.1787/5kmft7p4dv34-en |
Internformat
MARC
| LEADER | 00000cam a22000002 4500 | ||
|---|---|---|---|
| 001 | ZDB-13-SOC-061285250 | ||
| 003 | DE-627-1 | ||
| 005 | 20231204121055.0 | ||
| 007 | cr uuu---uuuuu | ||
| 008 | 210204s2010 xx |||||o 00| ||eng c | ||
| 024 | 7 | |a 10.1787/5kmft7p4dv34-en |2 doi | |
| 035 | |a (DE-627-1)061285250 | ||
| 035 | |a (DE-599)KEP061285250 | ||
| 035 | |a (FR-PaOEC)5kmft7p4dv34-en | ||
| 035 | |a (EBP)061285250 | ||
| 040 | |a DE-627 |b ger |c DE-627 |e rda | ||
| 041 | |a eng | ||
| 084 | |a G31 |2 jelc | ||
| 084 | |a F31 |2 jelc | ||
| 084 | |a E22 |2 jelc | ||
| 084 | |a E44 |2 jelc | ||
| 100 | 1 | |a Davis, E. Philip |e VerfasserIn |4 aut | |
| 245 | 1 | 0 | |a Asset Prices and Real Economic Activity |c E. Philip, Davis = Les prix des actifs et l'économie réelle / E. Philip, Davis |
| 246 | 3 | 3 | |a Les prix des actifs et l'économie réelle |
| 264 | 1 | |a Paris |b OECD Publishing |c 2010 | |
| 300 | |a 1 Online-Ressource (62 p.) |c 21 x 29.7cm. | ||
| 336 | |a Text |b txt |2 rdacontent | ||
| 337 | |a Computermedien |b c |2 rdamedia | ||
| 338 | |a Online-Ressource |b cr |2 rdacarrier | ||
| 490 | 0 | |a OECD Economics Department Working Papers |v no.764 | |
| 520 | |a A survey of the literature on asset price impacts on the real economy shows a much wider range of work on consumption and related wealth effects than on investment. The existence of wealth effects on consumption is little contested, but there remains an issue of whether different effects should hold between countries and across assets. There is less empirical work available on investment, partly reflecting poor results for Tobin?s Q, the user cost of capital and the financial accelerator. Panel investment functions for up to 23 OECD countries are estimated. Significant asset price effects from the financial accelerator and Tobin?s Q are found especially for the G7 countries as well as uncertainty effects as proxied by asset price volatility, but they only matter for the smaller OECD countries. | ||
| 650 | 4 | |a Economics | |
| 856 | 4 | 0 | |l FWS01 |p ZDB-13-SOC |q FWS_PDA_SOC |u https://doi.org/10.1787/5kmft7p4dv34-en |3 Volltext |
| 912 | |a ZDB-13-SOC | ||
| 912 | |a ZDB-13-SOC | ||
| 951 | |a BO | ||
| 912 | |a ZDB-13-SOC | ||
| 049 | |a DE-863 | ||
Datensatz im Suchindex
| DE-BY-FWS_katkey | ZDB-13-SOC-061285250 |
|---|---|
| _version_ | 1804748653771882496 |
| adam_text | |
| any_adam_object | |
| author | Davis, E. Philip |
| author_facet | Davis, E. Philip |
| author_role | aut |
| author_sort | Davis, E. Philip |
| author_variant | e p d ep epd |
| building | Verbundindex |
| bvnumber | localFWS |
| collection | ZDB-13-SOC |
| ctrlnum | (DE-627-1)061285250 (DE-599)KEP061285250 (FR-PaOEC)5kmft7p4dv34-en (EBP)061285250 |
| discipline | Wirtschaftswissenschaften |
| doi_str_mv | 10.1787/5kmft7p4dv34-en |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>02060cam a22003972 4500</leader><controlfield tag="001">ZDB-13-SOC-061285250</controlfield><controlfield tag="003">DE-627-1</controlfield><controlfield tag="005">20231204121055.0</controlfield><controlfield tag="007">cr uuu---uuuuu</controlfield><controlfield tag="008">210204s2010 xx |||||o 00| ||eng c</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1787/5kmft7p4dv34-en</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-627-1)061285250</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)KEP061285250</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(FR-PaOEC)5kmft7p4dv34-en</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(EBP)061285250</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-627</subfield><subfield code="b">ger</subfield><subfield code="c">DE-627</subfield><subfield code="e">rda</subfield></datafield><datafield tag="041" ind1=" " ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">G31</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">F31</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">E22</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="084" ind1=" " ind2=" "><subfield code="a">E44</subfield><subfield code="2">jelc</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Davis, E. Philip</subfield><subfield code="e">VerfasserIn</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Asset Prices and Real Economic Activity</subfield><subfield code="c">E. Philip, Davis = Les prix des actifs et l'économie réelle / E. Philip, Davis</subfield></datafield><datafield tag="246" ind1="3" ind2="3"><subfield code="a">Les prix des actifs et l'économie réelle</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Paris</subfield><subfield code="b">OECD Publishing</subfield><subfield code="c">2010</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource (62 p.)</subfield><subfield code="c">21 x 29.7cm.</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="a">Text</subfield><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="a">Computermedien</subfield><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="a">Online-Ressource</subfield><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">OECD Economics Department Working Papers</subfield><subfield code="v">no.764</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">A survey of the literature on asset price impacts on the real economy shows a much wider range of work on consumption and related wealth effects than on investment. The existence of wealth effects on consumption is little contested, but there remains an issue of whether different effects should hold between countries and across assets. There is less empirical work available on investment, partly reflecting poor results for Tobin?s Q, the user cost of capital and the financial accelerator. Panel investment functions for up to 23 OECD countries are estimated. Significant asset price effects from the financial accelerator and Tobin?s Q are found especially for the G7 countries as well as uncertainty effects as proxied by asset price volatility, but they only matter for the smaller OECD countries.</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Economics</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="l">FWS01</subfield><subfield code="p">ZDB-13-SOC</subfield><subfield code="q">FWS_PDA_SOC</subfield><subfield code="u">https://doi.org/10.1787/5kmft7p4dv34-en</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="951" ind1=" " ind2=" "><subfield code="a">BO</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-863</subfield></datafield></record></collection> |
| id | ZDB-13-SOC-061285250 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-16T15:07:18Z |
| institution | BVB |
| language | English |
| open_access_boolean | |
| owner | DE-863 DE-BY-FWS |
| owner_facet | DE-863 DE-BY-FWS |
| physical | 1 Online-Ressource (62 p.) 21 x 29.7cm. |
| psigel | ZDB-13-SOC |
| publishDate | 2010 |
| publishDateSearch | 2010 |
| publishDateSort | 2010 |
| publisher | OECD Publishing |
| record_format | marc |
| series2 | OECD Economics Department Working Papers |
| spelling | Davis, E. Philip VerfasserIn aut Asset Prices and Real Economic Activity E. Philip, Davis = Les prix des actifs et l'économie réelle / E. Philip, Davis Les prix des actifs et l'économie réelle Paris OECD Publishing 2010 1 Online-Ressource (62 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.764 A survey of the literature on asset price impacts on the real economy shows a much wider range of work on consumption and related wealth effects than on investment. The existence of wealth effects on consumption is little contested, but there remains an issue of whether different effects should hold between countries and across assets. There is less empirical work available on investment, partly reflecting poor results for Tobin?s Q, the user cost of capital and the financial accelerator. Panel investment functions for up to 23 OECD countries are estimated. Significant asset price effects from the financial accelerator and Tobin?s Q are found especially for the G7 countries as well as uncertainty effects as proxied by asset price volatility, but they only matter for the smaller OECD countries. Economics FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/5kmft7p4dv34-en Volltext |
| spellingShingle | Davis, E. Philip Asset Prices and Real Economic Activity Economics |
| title | Asset Prices and Real Economic Activity |
| title_alt | Les prix des actifs et l'économie réelle |
| title_auth | Asset Prices and Real Economic Activity |
| title_exact_search | Asset Prices and Real Economic Activity |
| title_full | Asset Prices and Real Economic Activity E. Philip, Davis = Les prix des actifs et l'économie réelle / E. Philip, Davis |
| title_fullStr | Asset Prices and Real Economic Activity E. Philip, Davis = Les prix des actifs et l'économie réelle / E. Philip, Davis |
| title_full_unstemmed | Asset Prices and Real Economic Activity E. Philip, Davis = Les prix des actifs et l'économie réelle / E. Philip, Davis |
| title_short | Asset Prices and Real Economic Activity |
| title_sort | asset prices and real economic activity |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/5kmft7p4dv34-en |
| work_keys_str_mv | AT davisephilip assetpricesandrealeconomicactivity AT davisephilip lesprixdesactifsetleconomiereelle |