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Persistent link: https://www.econbiz.de/10012171725
This paper empirically explores the short- and long-run effects of fiscal and monetary policies on US stock returns and tests the validity of market efficiency. The results support the presence of a strong long-run (equilibrium) relation binding stock prices with fiscal (but not monetary)...
Persistent link: https://www.econbiz.de/10012922668
Persistent link: https://www.econbiz.de/10011595777