Showing 1 - 10 of 18
Using 20 years of Australian quarterly data, this paper decomposes Australian share prices into their fundamental and speculative components. To do this we derive the fundamental share-price-output ratio and, hence, the fundamental share price from a resticted vector-autoregressive model...
Persistent link: https://www.econbiz.de/10005730789
Using 54 yeras of US quarterly data and a VAR model underpinned by a theory of the relationship between stock prices and output, this paper considers the deviations of US stock prices from their fundamental value. To do this we derive the fundamental price-output ratio and the fundamental stock...
Persistent link: https://www.econbiz.de/10005730822
Persistent link: https://www.econbiz.de/10009010920
Persistent link: https://www.econbiz.de/10001639874
Persistent link: https://www.econbiz.de/10001126539
Persistent link: https://www.econbiz.de/10001222712
Persistent link: https://www.econbiz.de/10001181323
Persistent link: https://www.econbiz.de/10003385126
Persistent link: https://www.econbiz.de/10001785809
Persistent link: https://www.econbiz.de/10003410120