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We undertake a decomposition of the risk factor loadings of fifteen national stock market returns from 1972 to 1990, using a variant of the Campbell-Shiller (1988) linearization. We find considerable variation among countries in the relative importance of a cash flow component and a discount...
Persistent link: https://www.econbiz.de/10005368494
This is the age of the train: certainly in Japan and in Europe; probably, soon, on the East Coast. The urgent question …
Persistent link: https://www.econbiz.de/10010677097