haku: @author Lettau, M. / yhteensä: 5
viite: 4 / 5
| Tekijä: | Lettau, M. Ludvigson, S. |
| Otsikko: | Consumption, aggregate wealth, and expected stock returns |
| Lehti: | Journal of Finance
2001 : JUN, VOL. 56:3, p. 815-849 |
| Asiasana: | Stock returns Stock markets Financial markets Consumption |
| Kieli: | eng |
| Tiivistelmä: | The authors study the role of fluctuations in the aggregate consumption - wealth ratio for predicting stock returns. Using U.S. quarterly stock market data, they find that these fluctuatons in the consumption - wealth ratio are strong predictors of both real stock returns and excess returns over a treasury bill rate. |
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