Böing, Tobias; Stadtmann, Georg - In: Credit and Capital Markets – Kredit und Kapital 50 (2017) 4, pp. 489-508
We empirically evaluate the predictive power of money growth measured by M2 for stock returns of the S&P 500 index. We … effect on subsequent returns of the S&P 500. An out-of-sample analysis shows that a simple model with money growth as a … mit dem Geldmengenaggregat M2 gemessen wird, für die Aktienrenditen des S&P 500 Indices gemessen. Wir verwenden …