Stock Prices and Bond Yields: Can Their Comovements Be Explained in Terms of Present Value Models?
收藏NBER1990-10-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w3464
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资源简介：
Real stock prices seem to overreact to changes in long-term interest rates. That is, real stock prices drop when long-term interest rates rise (and rise when they fall) more than would be implied by a rational expectations present value model where expectations are based on a vector autoregression.
提供机构：
美国国家经济研究局
创建时间：
1990-10-01
