Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5062830 | Economics Letters | 2006 | 5 Pages |
Abstract
Recent share price dynamics has led to much debate within academic and practitioner circles. Researchers have typically argued that either a bubble component exists within prices, or that the price-dividend relationship exhibits persistence. This note shows that an empirical model designed to capture limits to arbitrage can explain the movement in prices over the recent past.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
David G. McMillan,