Dividend Dynamics, Learning, and Expected Stock Index Returns
收藏NBER2015-09-01 更新2025-01-04 收录
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https://www.nber.org/papers/w21557
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资源简介：
We present a latent variable model of dividends that predicts, out-of-sample, 39.5% to 41.3% of the variation in annual dividend growth rates between 1975 and 2016. Further, when learning about dividend dynamics is incorporated into a long-run risks model, the model predicts, out-of-sample, 25.3% to
提供机构：
美国国家经济研究局
创建时间：
2015-09-01
