dc.contributor.author | Campbell, John | |
dc.date.accessioned | 2009-07-22T14:13:34Z | |
dc.date.issued | 2008 | |
dc.identifier.citation | Campbell, John Y. 2008. Estimating the equity premium. Canadian Journal of Economics 41(1): 1-21. | en |
dc.identifier.issn | 0008-4085 | en |
dc.identifier.uri | http://nrs.harvard.edu/urn-3:HUL.InstRepos:3196339 | |
dc.description.abstract | Finance theory restricts the time-series behaviour of valuation ratios and links the cross-section of stock prices to the level of the equity premium. This can be used to strengthen the evidence for predictability in stock returns. Steady-state valuation models are useful predictors of stock returns, given the persistence in valuation ratios. A steady-state approach suggests that the world geometric average equity premium fell considerably in the late twentieth century, rose modestly in the early years of the twenty-first century, and was almost 4% at the end of March 2007. | en |
dc.description.sponsorship | Economics | en |
dc.language.iso | en_US | en |
dc.publisher | Blackwell Publishing | en |
dc.relation.isversionof | http://www3.interscience.wiley.com/journal/119388929/abstract | en |
dash.license | LAA | |
dc.title | Estimating the Equity Premium | en |
dc.relation.journal | Canadian Journal of Economics | en |
dash.depositing.author | Campbell, John | |
dc.identifier.doi | 10.3386/w13423 | |
dash.contributor.affiliated | Campbell, John | |