Inflation and the stock market: Understanding the “Fed Model”
نویسندگان
چکیده
منابع مشابه
Ination and the Stock Market: Understanding the “Fed Model”
The so-called Fed model postulates that the dividend or earnings yield on stocks should equal the yield on nominal Treasury bonds, or at least that the two should be highly correlated. In US data there is indeed a strikingly high time series correlation between the yield on nominal bonds and the dividend yield on equities. This positive correlation is often attributed to the fact that both bond...
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ژورنال
عنوان ژورنال: Journal of Monetary Economics
سال: 2010
ISSN: 0304-3932
DOI: 10.1016/j.jmoneco.2010.02.004