Learning, Structural Instability and Present Value Calculations
56 Pages Posted: 8 Jun 2016
Date Written: 2006
Abstract
Present value calculations require predictions of cash flows both at near and distant future
Keywords: present value, stock prices, structural breaks, Bayesian learning
JEL Classification: G22, G12, C11
Suggested Citation: Suggested Citation
Pesaran, M. Hashem and Pettenuzzo, Davide and Timmermann, Allan, Learning, Structural Instability and Present Value Calculations (2006). Bundesbank Series 1 Discussion Paper No. 2006,27, Available at SSRN: https://ssrn.com/abstract=2785254 or http://dx.doi.org/10.2139/ssrn.2785254
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