
FEDS Paper: The Response of Equity Yields to a Long-Run Shock
Martijn Boons,Anthony M. Diercks, Petra Sinagl, and Andrea TamoniWe study how macroeconomic developments affect asset prices by analyzing the response of equity yields to a well-identified long-run growth shock. Using synthetic equity yield data from Giglio et al. (2024), we show that a positive lon
