There is No Excess Volatility Puzzle
收藏NBER2024-05-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w32481
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资源简介：
We present two valuation models that we use to account for the annual data on price per share and dividends per share for the CRSP Value-Weighted Index from 1929-2023. We show that it is a simple matter to account for these data based purely on a model of variation over time in the expected ratio of
提供机构：
美国国家经济研究局
创建时间：
2024-05-01
