Inflation Illusion and Stock Prices
收藏NBER2004-02-01 更新2025-01-04 收录
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https://www.nber.org/papers/w10263
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资源简介：
We empirically decompose the S&P 500's dividend yield into (1) a rational forecast of long-run real dividend growth, (2) the subjectively expected risk premium, and (3) residual mispricing attributed to the market's forecast of dividend growth deviating from the rational forecast. Modigliani and
提供机构：
美国国家经济研究局
创建时间：
2004-02-01
