Money Illusion in the Stock Market: The Modigliani-Cohn Hypothesis
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https://www.nber.org/papers/w11018
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资源简介：
Modigliani and Cohn [1979] hypothesize that the stock market suffers from money illusion, discounting real cash flows at nominal discount rates. While previous research has focused on the pricing of the aggregate stock market relative to Treasury bills, the money-illusion hypothesis also has
提供机构：
美国国家经济研究局
创建时间：
2005-01-01
