Explaining the Variance of Price Dividend Ratios
收藏NBER1989-11-01 更新2025-01-04 收录
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https://www.nber.org/papers/w3157
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This paper presents a bound on the variance of the price-dividend ratio and a decomposition of the variance of the price-dividend ratio into components that reflect variation in expected future discount rates and variation in expected future dividend growth. Unobserved discount rates needed to make
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美国国家经济研究局创建时间：
1989-11-01
