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  3. American Economic Review
  4. March 2004
  5. Understanding Trend and Cycle in Asset Values: Reevaluating the Wealth Effect on Consumption

American Economic Review

ISSN 0002-8282 (Print) | ISSN 1944-7981 (Online)

Understanding Trend and Cycle in Asset Values: Reevaluating the Wealth Effect on Consumption

  • Martin Lettau
  • Sydney C. Ludvigson
American Economic Review
vol. 94, no. 1, March 2004
(pp. 276–299)
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Citation

Lettau, Martin, and Sydney C. Ludvigson. 2004. "Understanding Trend and Cycle in Asset Values: Reevaluating the Wealth Effect on Consumption." American Economic Review, 94 (1): 276–299. DOI: 10.1257/000282804322970805

JEL Classification

  • D12 Consumer Economics: Empirical Analysis
  • D31 Personal Income, Wealth, and Their Distributions