Is the Stock Market Overvalued?
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The value of U.S. corporate equities in the first half of 2000 was close to 1.8 times U.S. gross national income. Some stock market analysts have argued that the market is overvalued at this level. We use standard economic theory and find that the market is correctly valued. In theory, the market
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美国国家经济研究局创建时间：
2001-01-01
