Short Rates and Expected Asset Returns
收藏NBER1990-01-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w3247
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资源简介：
We present evidence that short-term interest rates forecast excess returns on many alternative assets: foreign exchange, stocks, bonds, and commodities. On average, a one percentage-point increase in short rates is associated with three percent lower annualized excess returns. To test whether this
我们提供的证据表明，短期利率可预测多种另类资产（alternative assets）的超额收益，包括外汇、股票、债券及大宗商品。平均而言，短期利率每上升1个百分点，年化超额收益（annualized excess returns）便会降低3%。为检验这一
提供机构：
美国国家经济研究局
创建时间：
1990-01-01
