Interpretable Asset Markets?
收藏NBER2002-12-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w9383
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资源简介：
In this paper we show that measures of economic uncertainty (conditional volatility of consumption) predict and are predicted by valuation ratios at long horizons. Further we document that asset valuations drop as economic uncertainty rises that is, financial markets dislike economic uncertainty.
提供机构：
美国国家经济研究局
创建时间：
2002-12-01
