Macroeconomic Shocks and the Endogenous Response of the Stock Market and Real Interest Rates in a Neoclassical General-Equilibrium Model

This paper develops a neoclassical general equilibrium model to study the endogenous response of the stock market and the term structure of real interest rates in the face of a number of macroeconomic shocks believed to be important in the 1980s. An exogenous decline in savings, a debt-financed fisc...

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Main Authors:	Kong, Weng Ho, HOON, Hian Teck
Format:	text
Language:	English
Published:	Institutional Knowledge at Singapore Management University 1995
Subjects:	Economic Theory
Online Access:	https://ink.library.smu.edu.sg/soe_research/241
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Institution:	Singapore Management University
Language:	English

id	sg-smu-ink.soe_research-1240
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spelling	sg-smu-ink.soe_research-12402010-09-23T05:48:03Z Macroeconomic Shocks and the Endogenous Response of the Stock Market and Real Interest Rates in a Neoclassical General-Equilibrium Model Kong, Weng Ho HOON, Hian Teck This paper develops a neoclassical general equilibrium model to study the endogenous response of the stock market and the term structure of real interest rates in the face of a number of macroeconomic shocks believed to be important in the 1980s. An exogenous decline in savings, a debt-financed fiscal expansion, an increase in investment subsidy and an anticipation of higher productivity growth are found to have contrasting effects on the value of the stock market and the behaviour of the term structure of real interest rates in the model closed economy. 1995-01-01T08:00:00Z text https://ink.library.smu.edu.sg/soe_research/241 info:doi/10.1016/0264-9993(94)p4153-7 Research Collection School Of Economics eng Institutional Knowledge at Singapore Management University Economic Theory
institution	Singapore Management University
building	SMU Libraries
continent	Asia
country	Singapore Singapore
content_provider	SMU Libraries
collection	InK@SMU
language	English
topic	Economic Theory
spellingShingle	Economic Theory Kong, Weng Ho HOON, Hian Teck Macroeconomic Shocks and the Endogenous Response of the Stock Market and Real Interest Rates in a Neoclassical General-Equilibrium Model
description	This paper develops a neoclassical general equilibrium model to study the endogenous response of the stock market and the term structure of real interest rates in the face of a number of macroeconomic shocks believed to be important in the 1980s. An exogenous decline in savings, a debt-financed fiscal expansion, an increase in investment subsidy and an anticipation of higher productivity growth are found to have contrasting effects on the value of the stock market and the behaviour of the term structure of real interest rates in the model closed economy.
format	text
author	Kong, Weng Ho HOON, Hian Teck
author_facet	Kong, Weng Ho HOON, Hian Teck
author_sort	Kong, Weng Ho
title	Macroeconomic Shocks and the Endogenous Response of the Stock Market and Real Interest Rates in a Neoclassical General-Equilibrium Model
title_short	Macroeconomic Shocks and the Endogenous Response of the Stock Market and Real Interest Rates in a Neoclassical General-Equilibrium Model
title_full	Macroeconomic Shocks and the Endogenous Response of the Stock Market and Real Interest Rates in a Neoclassical General-Equilibrium Model
title_fullStr	Macroeconomic Shocks and the Endogenous Response of the Stock Market and Real Interest Rates in a Neoclassical General-Equilibrium Model
title_full_unstemmed	Macroeconomic Shocks and the Endogenous Response of the Stock Market and Real Interest Rates in a Neoclassical General-Equilibrium Model
title_sort	macroeconomic shocks and the endogenous response of the stock market and real interest rates in a neoclassical general-equilibrium model
publisher	Institutional Knowledge at Singapore Management University
publishDate	1995
url	https://ink.library.smu.edu.sg/soe_research/241
_version_	1770569080925847552

Macroeconomic Shocks and the Endogenous Response of the Stock Market and Real Interest Rates in a Neoclassical General-Equilibrium Model

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