| ID | 364251 |
| Title Proper | Stock prices and bond yields: can their comovements be explained in terms of present value models? |
| Other Title Information | Cowles Foundation Discussion Paper No. 953, September 1990 |
| Language | ENG |
| Author | Shiller, Robert J. ; Beltratti, Andrea E. |
| Summary / Abstract (Note) | Real stock prices seem to overreact to changes in long-term interest rates. This overreaction is not associated with any overreaction to changes in the short-run inflation rate. Over the last century real stock prices have shown little reaction changes in inflation rates and according to the model they should show little reaction. |
| `In' analytical Note | In Rutherford, Thomas F.: A modeling system for applied general equilibrium analysis. [Cowles Foundation Discussion Paper No. 836, May 1987] Connecticut. Cowles Foundation for Research in Economics, Yale University, 1987. |
| Key Words | Stock prices |