Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/269972 
Year of Publication: 
2020
Citation: 
[Journal:] Cogent Economics & Finance [ISSN:] 2332-2039 [Volume:] 8 [Issue:] 1 [Article No.:] 1816257 [Year:] 2020 [Pages:] 1-7
Publisher: 
Taylor & Francis, Abingdon
Abstract: 
Based on the present value model for stock prices, we utilise a pooled mean group estimator for panel ARDL cointegration to estimate the long-run relationship between G7 stock prices and macroeconomic variables over the last 40 years. We find a positive long-run relation between stock prices, industrial production and consumer prices as well as a negative relationship with real 10-year interest rates.
Subjects: 
cointegration
macroeconomy
stock market
JEL: 
C32
E44
G12
G7
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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