Guo, Hui (contributor); Savickas, Robert (contributor) - 2005
intuition. First, these
financial variables provide a good measure of broad business conditions and thus are potentially
less … on the financial variables that have been found to move closely with business
cycles. Fama and French (1989) use the … price-dividend ratio, the default premium, and the term
premium as measures of business conditions. Barro (1990) documents …