… In order to establish this connection, we introduce the concept of required yield from
Faugere-Van Erlach [2003]. In that paper, the authors theoretically show that at any …

… Julian Van Erlach … Julian Van Erlach … We assume that in every period j, the corresponding
discount rate RRCA j is constant and equal to the long-term average RRCA given by …

… After combining the above last two equations together, we obtain the crucial result of this
section: r j t+1 =g+π E t+1 +I j t+1 −B j t+1 − (λ j − 1)Φ t+1 , for j= 1, 10, 30. When the fear-…

We show that the long-term total market and average investor’s compounded stock returns
are determined by GDP growth and are much less than believed because of the infeasible …

TIPS (Treasury Inflation-Protected Securities), or the real yield, are directly and inversely
impacted by Fed Asset levels to the degree they depart from real GDP growth (the excess of …

We find that the long-run equity premium is fully explained by GDP growth and that it is
consistent with a short-term portfolio insurance motive. We first derive the macroeconomic …

This paper deals with the origin of existence from the viewpoints of the leading multiverse
theories posited by some scientists, logic and religious history which has asserted precise …

Economic assets can be classified into two broad categories: those earning an inherent return
and those earning a fiat money return. This article shows that both are valued according to …

1 THE PRICE OF OIL IS LARGELY DETERMINED BY THE REAL YIELD AND INFLATION
EXPECTATIONS © Julian Van Erlach 2/5/22 Working Paper … THE PRICE OF OIL IS LARGELY …

… and empirically discussed in Faugere-Van Erlach (2009) and is therefore beyond scope
here; but serves as a basis for findings. Faugere-Van Erlach make the case for EPS growth …