Durability of Output and Expected Stock Returns
The demand for durable goods is more cyclical than that for nondurable goods and services. Consequently, the cash flows and stock returns of durable-good producers are exposed to higher systematic risk. Using the benchmark input-output accounts of the National Income and Product Accounts, we con...
| 主要な著者: | , , |
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| その他の著者: | |
| フォーマット: | 論文 |
| 言語: | en_US |
| 出版事項: |
University of Chicago Press
2011
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| オンライン･アクセス: | http://hdl.handle.net/1721.1/65095 https://orcid.org/0000-0001-9387-9728 |