Panopoulou, Ekaterini; Pittis, Nikitas; Kalyvitis, Sarantis - Institute for International Integration Studies (IIIS), … - 2006
In this paper we reexamine the linkages between output growth and real stock price changes for the G7 countries using a battery of non-parametric procedures to account for the impact of long-lagged observations. We find that correlation between growth and returns is detected at larger horizons...