Dividend Yields and Expected Stock Returns: Alternative Procedures for Interference and Measurement
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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
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美国国家经济研究局创建时间：
1991-07-01
