Browsing FGV EPGE - Seminários de Pesquisa Econômica by Title "Predictable dividends and returns"

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    • Predictable dividends and returns 

      Ribeiro, Ruy
      2002-11-28
      The conventional wisdom is that the aggregate stock price is predictable by the lagged pricedividend ratio, and that aggregate dividends follow approximately a random-walk. Contrary to this belief, this paper finds that ...