## Abstract Using Bayesian Markov chain Monte Carlo methods, we decompose the log priceβdividend ratio into a market fundamentals component and a bubble component. The market fundamentals component depends on expectations of future dividend growth and required returns, while the bubble component is
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A test for rational bubbles in stock prices
β Scribed by Yuichi Fukuta
- Publisher
- Springer-Verlag
- Year
- 2002
- Tongue
- English
- Weight
- 119 KB
- Volume
- 27
- Category
- Article
- ISSN
- 0377-7332
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