Business cycles, financial crises, and stock volatility: Reply to Shiller
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William E. Simon Graduate School of Business Administration, University of Rochester, and National Bureau of Economic Research. This paper contains a rejoinder to the comments of Robert Shiller on my paper “quo;Business Cycles, Financial Crises and Stock Volatility”quo; in this volume. Support from the Bradley Policy Research Center at the University of Rochester is gratefully acknowledged.
Copyright © 1989 Published by Elsevier B.V.