From Main Street to Wall Street

Informationen zum Autor Jesper Rangvid is Professor of Finance and Director of the Pension Research Centre (PeRCent) at Copenhagen Business School. Rangvid earned his master's degree in economics from the University of Copenhagen and his Ph.D. in finance from Copenhagen Business School. In his research, Rangvid studies asset return determination and forecastability, financial crises, financial institutions (in particular asset managers and banks), and household finance. He is Chairman ofthe Danish Council for Pension Projections, and acts as an advisor to public agencies and private companies. Rangvid was Chairman of the government-appointed committee that investigated the causes and consequences of the financial crisis in Denmark. He has been a member of numerous boards, commissions,and advisory bodies. Jesper Rangvid is often cited and used as an expert on economic and financial topics in the media. Zusammenfassung In the long run, economies grow. Over the shorter-term business cycle, economic activity contracts and expands. From Main Street to Wall Street examines both the long-run relation between economic growth and stock returns and the shorter-term business-cycle relation. It examines the complex relationship between the economy and the stock market, and guides readers through the fascinating interaction between economic activity and financial markets.From Main Street to Wall Street draws heavily on data, supporting academic theories with empirical facts, and backing up arguments in intuitive ways. It discusses how investors can use knowledge of economic activity and financial markets to formulate expectations to future stock returns, and helps scholars and practitioners navigate financial markets by understanding the economy.

Auteur
Jesper Rangvid is Professor of Finance and Director of the Pension Research Centre (PeRCent) at Copenhagen Business School. Rangvid earned his master's degree in economics from the University of Copenhagen and his Ph.D. in finance from Copenhagen Business School. In his research, Rangvid studies asset return determination and forecastability, financial crises, financial institutions (in particular asset managers and banks), and household finance. He is Chairman of the Danish Council for Pension Projections, and acts as an advisor to public agencies and private companies. Rangvid was Chairman of the government-appointed committee that investigated the causes and consequences of the financial crisis in Denmark. He has been a member of numerous boards, commissions, and advisory bodies. Jesper Rangvid is often cited and used as an expert on economic and financial topics in the media.

Texte du rabat

This book examines the relation between the economy and the stock market. It discusses the academic theories and the empirical facts, and guides readers through the fascinating interaction between economic activity and financial markets.

Contenu

• 1: Introduction

• Part I: Growth and Returns: Basic Definitions and Stylized Facts

• 2: Long-run Economic Growth

• 3: Long-run Stock Market Returns

• 4: Drivers of Stock Returns

• Part II: Economic Growith and Stock Returns in the Long Run

• 5: Economic Growth and Stock Returns in the Long Run

• 6: Growth and Returns Across Countries

• 7: The Equity Premium

• Part III: Economic Growth and Stock Returns During the Business Cycle

• 8: Business Cycle Fluctuations in Economic Activity

• 9: The Stock Market over the Business Cycle

• 10: Monetary Policy and the Business Cycle

• 11: Monetary Policy, Interest Rates, and the Stock Market

• 12: The 2008-2009 Financial Crisis and its Aftermath

• 13: Value, Size, Sector, and Momentum Stocks

• Part IV: The Prospects for Economic Growth

• 14: The Outlook for Long-run Economic Growth

• 15: Judging the Stance of the Business Cycle

• Part V: The Prospects for Returns

• 16: Predicting Returns: Theory

• 17: Predicting the Short-to-Medium Horizon Returns

• 18: Predicting Long-Horizon Returns

• 19: Predicting Returns over Several Decades

• Part VI: Practical Investment Advice

• 20: Building and Maintaining Investment Portfolios