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Federal Reserve Bank of Cleveland
Economic Commentary
Stock prices and output growth: an examination of the credit channel
Charles T. Carlstrom
Timothy S. Fuerst
Vasso P. Ioannidou
Abstract

When stock market values fall, we know that investors expect lower economic growth in the future. But can stock market declines actually affect future growth? There is some evidence that they can-through the credit channel.


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Charles T. Carlstrom & Timothy S. Fuerst & Vasso P. Ioannidou, "Stock prices and output growth: an examination of the credit channel" , Federal Reserve Bank of Cleveland, Economic Commentary, issue Aug, 2002.
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Keywords: Stock - Prices
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