Dividend Yields and Expected Stock Returns: Alternative Procedures for Interference and Measurement
收藏NBER1991-07-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/t0108
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资源简介：
Alternative ways of conducting inference and measurement for long-horizon forecasting are explored with an application to dividend yields as predictors of stock returns. Monte Carlo analysis indicates that the Hansen and Hodrick (1980) procedure is biased at long horizons, but the alternatives
提供机构：
美国国家经济研究局
创建时间：
1991-07-01
