NEW YORK -- At NYU Stern School of Business on June 5, 2008 from Noon-1:30 pm, Charles I. Plosser will discuss the tremendous growth and innovation in financial markets worldwide and how they relate to the central bank's role in financial stability. He will highlight how developments in finance theory...
The authors identify the fundamentals behind the dynamics of the U.S. stock market over the past 30 years. They specify a structural vector-error-correction model following the methodology of King, Plosser, Stock, and Watson (1991). This methodology identifies structural shocks with the imposition of long-run restrictions. It allows the authors to...
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