between the stock's earnings and bond yields. The novelty of our econometric methodology consists in using a vector error … that the stock's earnings yield followed the bond yield in both the short- and long-run, but not the other way around … equilibrium relationship is that a major ``paradigm shift" in the stock valuation theory occurred in the late 1950s. To support …

the variation of excess bond risk premia in the sample. Additionally, the factor unveils differences between monetary …

This paper analyses persistence and non-linearities in quarterly and monthly US Treasury 10-year bond yields over the …