Stock market wealth and the real economy - Chodorow-Reich, Gabriel,Nenov, Plamen T.,Simsek, Alp (Centre for Economic Policy Research, 2019)
https://cepr.org/active/publications/discussion_papers/dp.php?dpno=13856
Keywords: Graue Literatur; stock prices; consumption wealth effect; marginal propensity to consume; employment; wages; regional heterogeneity; time-varying risk premium; nominal rigidities; monetary policy