Search Results - subject:"STOCK PRICES"

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Bubble, bubble, toil and trouble: asset prices and market speculation

Zaretsky, Adam M. - In: The Regional Economist (1999) Apr, pp. 4-9

As the Dow toys with 10,000, investors everywhere are positively giddy. But is this unprecedented growth being driven by fundamentals or black magic?

Persistent link: https://www.econbiz.de/10005390099

The recent ascent in stock prices: how exuberant are you?

Carlson, John B. - In: Economic Commentary (1999) Aug

Soaring stock prices continue to pit those who claim that investors are paying too much against those who believe … determine stock prices and discover the assumptions underlying our expectations. Assessing the consistency of these assumptions …

Persistent link: https://www.econbiz.de/10005390409

Share repurchases and employee stock options and their implications for S&P 500 share retirements and expected returns

Liang, J. Nellie; Sharpe, Steven A. - Federal Reserve Board (Board of Governors of the … - 1999

We estimate the effects of share repurchases and employee stock option exercises on net share retirements for large S&P 500 companies. We find that, over the past five years, gross repurchases have reduced shares outstanding 2 percent annually; but, owing to the exercise of employee stock...

Persistent link: https://www.econbiz.de/10005393887

Option prices with uncertain fundamentals theory and evidence on the dynamics of implied volatilities

David, Alexander; Varonesi, Pietro - Federal Reserve Board (Board of Governors of the … - 1999

In an incomplete information model, investors' uncertainty about the underlying drift rate of a firm's fundamentals affects option prices through (i) endogenous and belief-dependent stochastic volatility, (ii) stochastic covariance between returns and volatility, and (iii) a market price of...

Persistent link: https://www.econbiz.de/10005393910

Why does the change in shares predict stock returns?

Nelson, William R. - Federal Reserve Board (Board of Governors of the … - 1999

correlated with proxies for the deviation of current stock prices from fundamental value; the excess returns following the change …

Persistent link: https://www.econbiz.de/10005393913

Stock prices, expected returns, and inflation

Sharpe, Steven A. - Federal Reserve Board (Board of Governors of the … - 1999

This paper examines the effect of expected inflation on stock prices and expected long-run returns. An ex ante …, which on average implies a 20 percent decline in the level of stock prices. The inflation-related component of expected real …

Persistent link: https://www.econbiz.de/10005393983

Consumer sentiment and the stock market

Otoo, Maria W. - Federal Reserve Board (Board of Governors of the … - 1999

This paper examines the relationship between movements in consumer sentiment and stock prices. At the aggregate level … the nature of the relationship between the two. Does an increase in stock prices raise aggregate sentiment because people … are wealthier or because they use movements in stock prices as an indicator of future economic activity and potential …

Persistent link: https://www.econbiz.de/10005394019

Mapping Financial Sector Vulnerability in a Non-Crisis Country

Ötker, Inci; Downes, Patrick; Marston, David - International Monetary Fund (IMF) - 1999

The forward-looking framework expounded in this paper links a qualitative evaluation of system-wide vulnerability (covering macro, sectoral, institutional, and systemic liquidity issues) with a quantitative assessment of the financial condition of significant financial institutions. Based on...

Persistent link: https://www.econbiz.de/10005771354

U.S economic performance: good fortune, bubble, or new era?

Browne, Lynn Elaine - In: New England Economic Review (1999) May, pp. 3-20

the U.S. economy may be experiencing an asset price bubble, noting that while rising stock prices cannot explain low … inflation, decreases in inflation may have contributed to rising stock prices. …

Persistent link: https://www.econbiz.de/10005729126

Are stock returns different over weekends? a jump diffusion analysis of the "weekend effect"

Fortune, Peter - In: New England Economic Review (1999) Sep, pp. 3-19

characteristics. The performance of stock prices during breaks in trading has received considerable attention in recent years …

Persistent link: https://www.econbiz.de/10005729164