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Has the stock market crash reduced consumer spending?

Author

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  • C. Alan Garner

Abstract

Some forecasters expected that the October 1987 stock market collapse would seriously lower GNP growth by curtailing consumer spending. After declining in October, however, consumer spending has grown moderately. This relatively small effect is consistent with empirical studies showing that the stock market has only a modest impact on consumer spending.

Suggested Citation

  • C. Alan Garner, 1988. "Has the stock market crash reduced consumer spending?," Economic Review, Federal Reserve Bank of Kansas City, vol. 73(Apr), pages 3-16.
    • Handle: RePEc:fip:fedker:y:1988:i:apr:p:3-16:n:v.73no.4
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    File URL: https://www.kansascityfed.org/documents/1241/1988-Has%20The%20Stock%20Market%20Crash%20Reduced%20Consumer%20Spending%3F.pdf
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    Cited by:

    1. James Ming Chen, 2017. "Systematic Risk in the Macrocosm," Quantitative Perspectives on Behavioral Economics and Finance, in: Econophysics and Capital Asset Pricing, chapter 0, pages 239-274, Palgrave Macmillan.

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