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The Ex Post Rational Price is Certainly Ex Post, It Might Be Rational, But Is It Useful?

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Author Info
Kamstra, M.

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Abstract

This paper investigates the ex post rational price of Shiller (1981) to determine if it is a reliable guide to fundamental valuations of dividend-yielding assets. The ex post rational price is widely used to determine whether stock market price movements are rational responses to market news or not, and as such may prove pivotal to policy-makers in determining regulation of new and existing capital markets.

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Publisher Info
Paper provided by Department of Economics, Simon Fraser University in its series Discussion Papers with number dp98-05.

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Length: 13 pages
Date of creation: 1998
Date of revision:
Handle: RePEc:sfu:sfudps:dp98-05

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Postal: Department of Economics, Simon Fraser University, 8888 University Drive, Burnaby, BC, V5A 1S6, Canada
Phone: (778)782-3508
Fax: (778)782-5944
Web page: http://www.econ.sfu.ca/
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Postal: Working Paper Coordinator, Department of Economics, Simon Fraser University, 8888 University Drive, Burnaby, BC, V5A 1S6, Canada
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Web: http://www.econ.sfu.ca/Research_and_Seminars/Publications/index.html

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Related research
Keywords: PRICING PRICES

Find related papers by JEL classification:
G12 - Financial Economics - - General Financial Markets - - - Asset Pricing
C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Semiparametric and Nonparametric Methods
C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Statistical Simulation Methods
C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models
C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Other Model Applications
N22 - Economic History - - Financial Markets and Institutions - - - U.S.; Canada: 1913-

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This page was last updated on 2008-11-17.

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