According to several ONS measures, real wages have been falling since 2010. This article uses ONS data to examine four possible factors behind this; productivity, real wage wedges, hours worked,...
We show how to use conditioning information optimally to construct a sharper unconditional Hansen-Jagannathan (1991) bound. The approach in this paper is different from that of Gallant, Hansen and Tau
This table presents the performance of each portfolio, from January 2006 to December 2020. The High, M, Low, and LS denotes the rate of return for undervalued stocks, overvalued stocks, stocks lying o
Fama and French (2002) estimate the equity premium using dividend growth rates to measure the expected rate of capital gain. We use similar methods to study the value premium. From 1941 to 2002, the e
