Campbell, Sean D. (contributor); … - 2005 - Rev.
equity returns, prediction, Livingston survey, risk
aversion, equity premium, risk premium
JEL Code: G12
Acknowledgments … business conditions remains largely speculative.
Against this background, we use a well-known survey to provide direct evidence … the data, and in particular our survey-
based measure of expected business conditions. In section 3 we examine the links …