Download This PaperS&P and Real Yields
4 Pages Posted: 12 Jul 2022
Date Written: June 30, 2022
Abstract
I begin by reviewing the well known theoretical relationship between dividend yields, growth, and real interest rates. Using the Cleveland Fed series for real rates, and CBO estimated growth rates, I find a simple linear relationship which fits well, and possibly can identify relative richness of real bonds or stocks.
Keywords: real rates, stocks, bonds
Suggested Citation: Suggested Citation
Morton, Andrew, S&P and Real Yields (June 30, 2022). Available at SSRN: https://ssrn.com/abstract=4150767 or http://dx.doi.org/10.2139/ssrn.4150767
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