Predictive content of the stock market for output revisited
In-sample and out-of-sample evidence for major countries shows that stock price determinants (earnings, risk-free interest rate and equity risk premium) accurately predict real Gross Domestic Product beyond 1 year compared to the stock price index, dividend yield, price/earnings ratio and the Fed model.
Volume (Year): 16 (2009)
Issue (Month): 13 ()
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