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金融学术讲座2020年第1期
发布时间:2020年07月16日 16:26    编辑:wangyj    点击:[]


一、 报告题目

Gold priced in oil, economic fundamentals and return predictability

Abstract: Gold to oil prices ratio (GO) is a procyclical leading economic indicator, which reveals and enhances the information of gold prices related to economic fundamentals rather than financial risk or economic distress. We empirically show that GO positively predicts future excess stock market returns both in-sample and out-of-sample. GO performs better during economic recessions and bear market periods, and outperforms other gold price ratios. GO predicts stock returns by affecting future economic conditions and discount rates. GO provides us with a new perspective to explain gold price behaviors during economic recessions.

二、 报告人

方彤,澳门新葡8455最新网站副教授

三、 报告时间

71714:00-15:00

四、 报告地点

腾讯会议 ID617 902 724


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