Stock Market Wealth impact on Consumption Expenditure
Ramberto Sosa Cueto
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Stock Market Wealth impact on Consumption Expenditure

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The purpose of this research is to explain the role of the stock market in determining aggregate consumer behavior. Theoretically, the life-cycle hypothesis is the main link between consumption and wealth. Additionally, a household's corporate equities holdings form part of that wealth (a small proportion). However, stock market fluctuations account for a significant part of the variation in household wealth, because of the stock prices' volatility. In regression models, the estimated relationship between consumption and wealth is commonly positive and statistically significant. The empirical ...