The Dividend-Price Ratio and Expectations of Future Dividends and Discount Factors
收藏NBER1986-12-01 更新2025-01-04 收录
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https://www.nber.org/papers/w2100
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资源简介：
A linearization of a rational expectations present value model for corporate stock prices produces a simple relation between the log dividend-price ratio and mathematical expectations of future log real dividend changes and future real discount rates. This relation can be tested using vector
提供机构：
美国国家经济研究局
创建时间：
1986-12-01
