Ratcliffe, A. and Taylor, K. (2015) Who cares about stock market booms and busts? Evidence from data on mental health. Oxford Economic Papers, 67 (3). 826 - 845. ISSN 0030-7653
Abstract
This article investigates the association between stock market activity and mental well-being, exploiting the availability of interview dates in the British Household Panel Survey to match changes in the FTSE 100 stock price index to respondents over the period 1991–2008. We present evidence that annual changes in the price index are associated with better mental well-being whilst greater uncertainty, proxied by volatility in the price index, is associated with poorer mental well-being—even after controlling for macroeconomic conditions. Our findings provide support of a wealth mechanism and also suggest that the stock market is a barometer of economic prospects and/or social movements and mood.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © Oxford University Press 2015 This is an Open Access article distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted reuse, distribution, and reproduction in any medium, provided the original work is properly cited. |
Dates: |
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Institution: | The University of Sheffield |
Academic Units: | The University of Sheffield > Faculty of Social Sciences (Sheffield) > Department of Economics (Sheffield) |
Depositing User: | Symplectic Sheffield |
Date Deposited: | 21 Jan 2016 11:47 |
Last Modified: | 21 Jan 2016 11:47 |
Published Version: | http://dx.doi.org/10.1093/oep/gpv030 |
Status: | Published |
Publisher: | Oxford University Press |
Refereed: | Yes |
Identification Number: | 10.1093/oep/gpv030 |
Related URLs: | |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:93583 |