The predictive strength of MBS yield spreads during asset bubbles

Expected Returns, Yield Spreads, and Asset Pricing Tests

We use information contained in yield spreads to recover investors’ ex ante required rates of return on corporate securities, and then use these ex ante returns to study the pricing of risky assets. Differently from the standard approach, our asset pricing tests do not rely on the use of ex post average equity returns as proxies for expected equity returns. We Þnd that: (i) the market beta play...

Real Activity and Yield Spreads under the Consumption-based Asset Pricing Model

By using a flexible linear version of the consumption based asset pricing model, this paper shows the extraordinary capacity of the yield spreads to forecast consumption growth. More precisely, using both averages of yield spreads and average past stock returns, we are able to replicate the Economic Sentiment Indicator elaborated by the European Commission in order to predict turning points in ...

the effect of taftan pozzolan on the compressive strength of concrete in the environmental conditions of oman sea (chabahar port)

cement is an essential ingredient in the concrete buildings. for production of cement considerable amount of fossil fuel and electrical energy is consumed. on the other hand for generating one tone of portland cement, nearly one ton of carbon dioxide is released. it shows that 7 percent of the total released carbon dioxide in the world relates to the cement industry. considering ecological issu...

the effect of e-64 on the developmental competence of sheep cocs during in vitro maturation

in the present study, the effect of e-64 at different concentrations (0.5, 1, 5 and 10 µm) added to (1) the ivm medium on oocyte nuclear maturation and developmental competence of ovine oocytes, and (2) to the ivc medium on embryonic development of ovine embryos were investigated.

Asset Bubbles and Overlapping Generations