01916cas a2200253 a 4500 AALejournalIMF007904 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451849998 1018-5941 BD-DhAAL BD-DhAAL Sloek, Torsten. Wealth Effects and the New Economy / Torsten Sloek, Hali Edison. Washington, D.C. : International Monetary Fund, 2001. 1 online resource (22 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper investigates if there is a different impact from changes in "new" and "old" economy stock valuations on private consumption. Estimating a reduced-form VAR for seven OECD countries for the 1990s, it is found that the impact from changes in old economy stock valuations on consumption is in general larger in the United States, Canada, and United Kingdom than in continental Europe. Furthermore, the impact from changes in new economy valuations to consumption is roughly the same in the United States, Canada, and United Kingdom and in continental Europe. Finally, the results suggest that in continental Europe the impact on consumption from changes in the valuation of new economy stocks is bigger than from the old economy stocks, whereas for the United States, Canada, and United Kingdom the impact is more or less the same between the two sectors. Mode of access: Internet Edison, Hali. IMF Working Papers; Working Paper ; No. 2001/077 Full text available on IMF http://elibrary.imf.org/view/journals/001/2001/077/001.2001.issue-077-en.xml IMF e-Library