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Why real interest rates, cost of capital and price/earnings ratios vary across countries

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  • Chowdhry, Bhagwan
  • Titman, Sheridan

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  • Chowdhry, Bhagwan & Titman, Sheridan, 2001. "Why real interest rates, cost of capital and price/earnings ratios vary across countries," Journal of International Money and Finance, Elsevier, vol. 20(2), pages 165-189, April.
    • Handle: RePEc:eee:jimfin:v:20:y:2001:i:2:p:165-189
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    1. David Meerschwam, 1991. "The Japanese Financial System and the Cost of Capital," NBER Chapters, in: Trade with Japan: Has the Door Opened Wider?, pages 191-224, National Bureau of Economic Research, Inc.
    2. Darby, Michael R., 1986. "The internationalization of American banking and finance: Structure, risk, and world interest rates," Journal of International Money and Finance, Elsevier, vol. 5(4), pages 403-428, December.
    3. Merton, Robert C., 1971. "Optimum consumption and portfolio rules in a continuous-time model," Journal of Economic Theory, Elsevier, vol. 3(4), pages 373-413, December.
    4. French, Kenneth R. & Poterba, James M., 1991. "Were Japanese stock prices too high?," Journal of Financial Economics, Elsevier, vol. 29(2), pages 337-363, October.
    5. Sven W. Arndt & J. David Richardson, 1987. "Real-Financial Linkages Among Open Economies," NBER Working Papers 2230, National Bureau of Economic Research, Inc.
    6. Mishkin, Frederic S, 1984. "Are Real Interest Rates Equal across Countries? An Empirical Investigation of International Parity Conditions," Journal of Finance, American Finance Association, vol. 39(5), pages 1345-1357, December.
    7. Hsieh, David A., 1982. "The determination of the real exchange rate : The productivity approach," Journal of International Economics, Elsevier, vol. 12(3-4), pages 355-362, May.
    8. Stulz, Rene M, 1987. "An Equilibrium Model of Exchange Rate Determination and Asset Pricing with Nontraded Goods and Imperfect Information," Journal of Political Economy, University of Chicago Press, vol. 95(5), pages 1024-1040, October.
    9. Mussa, Michael, 1982. "A Model of Exchange Rate Dynamics," Journal of Political Economy, University of Chicago Press, vol. 90(1), pages 74-104, February.
    10. Jeffrey A. Frankel, 1991. "Japanese Finance in the 1980s: A Survey," NBER Chapters, in: Trade with Japan: Has the Door Opened Wider?, pages 225-270, National Bureau of Economic Research, Inc.
    11. Solnik, Bruno H., 1974. "An equilibrium model of the international capital market," Journal of Economic Theory, Elsevier, vol. 8(4), pages 500-524, August.
    12. Dornbusch, Rudiger, 1983. "Real Interest Rates, Home Goods, and Optimal External Borrowing," Journal of Political Economy, University of Chicago Press, vol. 91(1), pages 141-153, February.
    13. Adler, Michael & Lehmann, Bruce, 1983. "Deviations from Purchasing Power Parity in the Long Run," Journal of Finance, American Finance Association, vol. 38(5), pages 1471-1487, December.
    14. Bela Balassa, 1964. "The Purchasing-Power Parity Doctrine: A Reappraisal," Journal of Political Economy, University of Chicago Press, vol. 72(6), pages 584-584.
    15. Dumas, Bernard, 1992. "Dynamic Equilibrium and the Real Exchange Rate in a Spatially Separated World," The Review of Financial Studies, Society for Financial Studies, vol. 5(2), pages 153-180.
    16. Adler, Michael & Dumas, Bernard, 1983. "International Portfolio Choice and Corporation Finance: A Synthesis," Journal of Finance, American Finance Association, vol. 38(3), pages 925-984, June.
    17. Uppal, Raman, 1993. "A General Equilibrium Model of International Portfolio Choice," Journal of Finance, American Finance Association, vol. 48(2), pages 529-553, June.
    18. Paul Krugman, 1991. "Trade with Japan: Has the Door Opened Wider?," NBER Books, National Bureau of Economic Research, Inc, number krug91-1, February.
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    Cited by:

    1. Nicholas Apergis & Christis Hassapis & Christina Christou & Steve Johnson, 2015. "International Earnings To Price Ratio Convergence: Evidence From The European Union," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 9(5), pages 37-55.

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