Does Debt Really Crack the Whip? Evidence from a Panel of Selected OECD Countries
نویسندگان
چکیده
منابع مشابه
Evidence from OECD Countries
In this paper we use a representative consumer model to analyse the equilibrium relation between the transitory deviations from the common trend among consumption, aggregate wealth, and labour income, cay, and focus on the implications for both stock returns and housing returns. The evidence based on data for 15 OECD countries shows that when agents expect future stock returns to be higher, the...
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ژورنال
عنوان ژورنال: Procedia Economics and Finance
سال: 2016
ISSN: 2212-5671
DOI: 10.1016/s2212-5671(16)30214-3