Why Don't the Prices of Stocks and Bonds Move Together?
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The very low real interest rates on bonds in the 1970's were accompanied by a large drop in the value of common stocks relative to dividends and earnings. More generally, a number of authors have demonstrated that the real prices of debt and equity claims do not covary closely, and often move in
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美国国家经济研究局创建时间：
1986-10-01
