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Predictability of Returns and Cash Flows

Authors: Nieuwerburgh, Stijn Van
Koijen, Ralph S. J.
Issue Date: 9-Jan-2012
Series/Report no.: FIN-11-051
Abstract: We review the literature on return and cash flow growth predictability form the perspective of the present-value identity. We focus predominantly on recent work. Our emphasis is on U.S. aggregate stock return predictability, but we also discuss evidence from other asset classes and countries.
Appears in Collections:Finance Working Papers

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