Linking wealth and labour income with stock returns and government bond yields
In this paper, I assess the predictive ability of the ratio of asset wealth to labour income for both stock returns and government bond yields. Using data for 16 Organization for Economic Co-operation and Development (OECD) countries, I show that when the wealth-to-income ratio falls, investors dema...
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| Format: | article |
| Language: | eng |
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2015
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| Subjects: | |
| Online Access: | http://hdl.handle.net/1822/25998 |
| Country: | Portugal |
| Oai: | oai:repositorium.sdum.uminho.pt:1822/25998 |