Ratanapakorn, Orawan; Sharma, Subhash - In: Applied Financial Economics 17 (2007) 5, pp. 369-377
This study investigates the long-term and short-term relationships between the US stock price index (S&P 500) and six macroeconomic variables over the period 1975:1-1999:4. We observe that the stock prices negatively relate to the long-term interest rate, but positively relate to the money...
