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- W2009962625 abstract "We estimate the effects of oil supply and demand shocks on the U.S. dividend yield components (dividend growth, real interest rate, subjective equity premium and mispricing), as they emerge from a decomposition based on the Campbell and Vuolteenaho (2004a) framework. A positive relationship between oil price increases and dividend yield emerges, the persistence of which depends on the news driving oil price increases. The linkages between oil price shocks and dividend yield's components show that a confluence of factors determines the ultimate impact of oil price increases on stock market valuations, revealing information about the oil price pass-through mechanism." @default.
- W2009962625 created "2016-06-24" @default.
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- W2009962625 date "2014-01-01" @default.
- W2009962625 modified "2023-10-07" @default.
- W2009962625 title "Oil shocks, stock market prices, and the U.S. dividend yield decomposition" @default.
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- W2009962625 doi "https://doi.org/10.1016/j.iref.2013.06.001" @default.
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