Predicting the equity premium with dividend ratios: reconciling the evidence. [Lead article]
This paper evaluates the ability of dividend ratios to predict the equity premium. We conduct an in and out-of-sample comparative study and apply the Goyal and Welch (2003) graphical method to equity premia derived from the UK FTSE All-Share and the S&P 500 indices. Preliminary in-sample univari...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
2010-09.
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| Subjects: | |
| Online Access: | Get fulltext |