메뉴 건너뛰기




Volumn 29, Issue 2, 2007, Pages 153-166

Irving Fisher and financial economics: The equity premium puzzle, the predictability of stock prices, and intertemporal allocation under risk

Author keywords

[No Author keywords available]

Indexed keywords


EID: 34249311604     PISSN: 10538372     EISSN: 14699656     Source Type: Journal    
DOI: 10.1080/10427710701335885     Document Type: Article
Times cited : (10)

References (68)
  • 1
    • 34249322937 scopus 로고    scopus 로고
    • Robert Loring
    • Cambridge, MA: Blackwell
    • Allen, Robert Loring (1993) Irving Fisher: A Biography (Cambridge, MA: Blackwell).
    • Irving Fisher: A Biography
    • Allen1
  • 3
    • 34249318328 scopus 로고    scopus 로고
    • Financial Times, December 5 (posted on Miami Herald
    • Website Herald.com, December 6
    • Bickerton, I, (2003) Dim Bulbs? Tulip Investors at a Loss, Financial Times, December 5 (posted on Miami Herald Website Herald.com, December 6).
    • (2003)
    • Bickerton, I.1
  • 4
    • 84967560407 scopus 로고
    • Review of Norton
    • Bowley, A. L. (1902) Review of Norton (1902), Economic Journal, 12 (48), pp. 516-18.
    • (1902) Economic Journal , vol.12 , Issue.48 , pp. 516-518
    • Bowley, A.L.1
  • 5
    • 0040083046 scopus 로고    scopus 로고
    • The Dow Theory: William Peter Hamilton's Track Record Reconsidered
    • August, pp
    • Brown, Stephen J., Goetzmann, William N., and Kumar, Alok (1998) The Dow Theory: William Peter Hamilton's Track Record Reconsidered, Journal of Finance, 53 (August), pp. 1311-33.
    • (1998) Journal of Finance , vol.53 , pp. 1311-1333
    • Brown, S.J.1    Goetzmann, W.N.2    Kumar, A.3
  • 6
    • 34249305089 scopus 로고
    • Irving Fisher, Father of the Income Approach
    • September/October, pp
    • Burton, J. H. (1980) Irving Fisher, Father of the Income Approach, Real Estate Appraiser and Analyst, 46 (September/October), pp. 56-60.
    • (1980) Real Estate Appraiser and Analyst , vol.46 , pp. 56-60
    • Burton, J.H.1
  • 7
    • 34249279088 scopus 로고
    • Income and Capital: Fisher's Legacy
    • Chambers, R. J. (1971) Income and Capital: Fisher's Legacy, Journal of Accounting Research, 9 (1), pp, 137-49.
    • (1971) Journal of Accounting Research , vol.9 , Issue.1 , pp. 137-149
    • Chambers, R.J.1
  • 8
    • 14844354879 scopus 로고
    • Fluctuations in Capital and the Demand for Money
    • October, pp
    • Chambers, Stanley Paul (1934) Fluctuations in Capital and the Demand for Money, Review of Economic Studies, 2 (October), pp. 38-50.
    • (1934) Review of Economic Studies , vol.2 , pp. 38-50
    • Chambers, S.P.1
  • 9
    • 77957315162 scopus 로고
    • J. M. Keynes's Investment Performance: A Note
    • March, pp
    • Chua, Jess H., and Woodward, Richard S. (1983) J. M. Keynes's Investment Performance: A Note, Journal of Finance, 38 (March), pp. 153-56.
    • (1983) Journal of Finance , vol.38 , pp. 153-156
    • Chua, J.H.1    Woodward, R.S.2
  • 11
    • 0000810128 scopus 로고
    • Can Stock Market Forecasters Forecast?
    • III , July, pp
    • Cowles, Alfred, III (1933) Can Stock Market Forecasters Forecast? Econometrica, 1 (July), pp. 309-24.
    • (1933) Econometrica , vol.1 , pp. 309-324
    • Cowles, A.1
  • 12
    • 34249307740 scopus 로고    scopus 로고
    • Cowles, Alfred, III (1936) Evidence of Structure in Common Stock Prices, in: C. H. Sisam (Ed) Abstracts of Papers Presented at the Research Conference on Economics and Statistics Held by the Cowles Commission for Research in Economics, at Colorado College, July 6 to August 8, 1936 (Colorado Springs, CO: Colorado College Publication, General series, No. 208), pp. 97-99.
    • Cowles, Alfred, III (1936) Evidence of Structure in Common Stock Prices, in: C. H. Sisam (Ed) Abstracts of Papers Presented at the Research Conference on Economics and Statistics Held by the Cowles Commission for Research in Economics, at Colorado College, July 6 to August 8, 1936 (Colorado Springs, CO: Colorado College Publication, General series, No. 208), pp. 97-99.
  • 13
    • 0000810128 scopus 로고
    • Stock Market Forecasting
    • III , July-October, pp
    • Cowles, Alfred, III (1944) Stock Market Forecasting, Econometrica, 12 (July-October), pp. 206-14.
    • (1944) Econometrica , vol.12 , pp. 206-214
    • Cowles, A.1
  • 14
    • 34249290670 scopus 로고    scopus 로고
    • Cowles, Alfred, III (1960) A Revision of Previous Conclusions Regarding Stock Price Behavior, Econometrica, 28 (October), pp. 909-15. Reprinted in Cootner (1964).
    • Cowles, Alfred, III (1960) A Revision of Previous Conclusions Regarding Stock Price Behavior, Econometrica, 28 (October), pp. 909-15. Reprinted in Cootner (1964).
  • 15
    • 34249326870 scopus 로고    scopus 로고
    • III and Associates
    • Common Stock Indexes, 2nd edition, Bloomington, IN: Principia Press
    • Cowles, Alfred, III and Associates (1939) Common Stock Indexes, 2nd edition, Cowles Commission for Research in Economics Monograph No, 3 (Bloomington, IN: Principia Press).
    • Cowles Commission for Research in Economics Monograph , vol.3
    • Cowles, A.1
  • 16
    • 34249327528 scopus 로고    scopus 로고
    • Cowles, Alfred, III and Jones, Herbert E. (1937) Some A Posteriori Probabilities in Stock Market Action, Econometrica, 5 (July), pp. 280-94.
    • Cowles, Alfred, III and Jones, Herbert E. (1937) Some A Posteriori Probabilities in Stock Market Action, Econometrica, 5 (July), pp. 280-94.
  • 19
    • 34249290338 scopus 로고    scopus 로고
    • Crockett, John H., Jr. (1980) Irving Fisher on the Financial Economics of Uncertainty, History of Political Economy, 12 (Spring), pp. 65-82.
    • Crockett, John H., Jr. (1980) Irving Fisher on the Financial Economics of Uncertainty, History of Political Economy, 12 (Spring), pp. 65-82.
  • 20
    • 34249275222 scopus 로고
    • Keynes in the City
    • M. Keynes Ed, Cambridge, UK: Cambridge University Press
    • Davenport, Nicholas (1975) Keynes in the City, in: M. Keynes (Ed) Essays on John Maynard Keynes (Cambridge, UK: Cambridge University Press).
    • (1975) Essays on John Maynard Keynes
    • Davenport, N.1
  • 22
    • 34249288217 scopus 로고    scopus 로고
    • Dimand, Robert W., and Geanakoplos, John (Eds) (2005) Celebrating Irving Fisher: The Legacy of a Great Economist (Maiden, MA: Blackwell).
    • Dimand, Robert W., and Geanakoplos, John (Eds) (2005) Celebrating Irving Fisher: The Legacy of a Great Economist (Maiden, MA: Blackwell).
  • 23
    • 0012096088 scopus 로고
    • Forecasting the Depression: Harvard versus Yale
    • September, pp
    • Dominguez, Kathryn M., Fair, Ray C., and Shapiro, Matthew D, (1988) Forecasting the Depression: Harvard versus Yale, American Economic Review, 78 (September), pp. 595-612.
    • (1988) American Economic Review , vol.78 , pp. 595-612
    • Dominguez, K.M.1    Fair, R.C.2    Shapiro, M.D.3
  • 24
    • 34249333030 scopus 로고    scopus 로고
    • Emery, Henry C. (1896) Speculation on the Stock and Produce Exchanges of the United States (New York: Columbia University Press, Studies in History, Economics, and Public Law, VII).
    • Emery, Henry C. (1896) Speculation on the Stock and Produce Exchanges of the United States (New York: Columbia University Press, Studies in History, Economics, and Public Law, VII).
  • 25
    • 0003482655 scopus 로고
    • New York: Macmillan, Reprinted, Fisher 1997
    • Fisher, Irving (1906) The Nature of Capital and Income (New York: Macmillan). Reprinted in: Fisher (1997), Vol, 2.
    • (1906) The Nature of Capital and Income , vol.2
    • Fisher, I.1
  • 26
    • 0004253648 scopus 로고
    • New York: Macmillan, Reprinted, Fisher 1997
    • Fisher, Irving (1907) The Rate of Interest (New York: Macmillan). Reprinted in: Fisher (1997), Vol. 3.
    • (1907) The Rate of Interest , vol.3
    • Fisher, I.1
  • 27
    • 34249307739 scopus 로고    scopus 로고
    • Fisher, Irving (1922) The Making of Index Numbers (Boston: Houghton Mifflin for Pollak Foundation), edition (1927). Reprinted in: Fisher (1997), 4.
    • Fisher, Irving (1922) The Making of Index Numbers (Boston: Houghton Mifflin for Pollak Foundation), edition (1927). Reprinted in: Fisher (1997), Vol. 4.
  • 28
    • 34249340383 scopus 로고    scopus 로고
    • Fisher, Irving (1925a) Stocks vs. Bonds, The American Review of Reviews 72 (July), pp. 44-46, as adapted in Economic Problems: A Book of Selected Readings, in: Fred R. Fairchild and R. T. Compton (Eds) (New York: Macmillan, 1928), pp. 230-36. Reprinted in: Fisher (1997), 8.
    • Fisher, Irving (1925a) Stocks vs. Bonds, The American Review of Reviews 72 (July), pp. 44-46, as adapted in Economic Problems: A Book of Selected Readings, in: Fred R. Fairchild and R. T. Compton (Eds) (New York: Macmillan, 1928), pp. 230-36. Reprinted in: Fisher (1997), Vol. 8.
  • 29
    • 34249288927 scopus 로고    scopus 로고
    • Fisher, Irving (1925b) The Stabilized Bond: A New Idea in Finance, The Annalist, 25 (13 November), pp. 1096 ff'., as extracted in Economic Problems: A Book of Selected Readings, ed. Fred R. Fairchild and R. T. Compton (New York: Macmillan, 1928), pp. 236-29. Reprinted in: Fisher (1997), 8.
    • Fisher, Irving (1925b) The Stabilized Bond: A New Idea in Finance, The Annalist, 25 (13 November), pp. 1096 ff'., as extracted in Economic Problems: A Book of Selected Readings, ed. Fred R. Fairchild and R. T. Compton (New York: Macmillan, 1928), pp. 236-29. Reprinted in: Fisher (1997), Vol. 8.
  • 30
    • 34249334208 scopus 로고    scopus 로고
    • Fisher, Irving (1928) The Money Illusion (New York: Adelphi). Reprinted in: Fisher (1997), 9.
    • Fisher, Irving (1928) The Money Illusion (New York: Adelphi). Reprinted in: Fisher (1997), Vol. 9.
  • 32
    • 34249282998 scopus 로고    scopus 로고
    • Reprinted in: Fisher (1997), 9. Fisher, Irving (1930b) The Stock Market Crash-And After (New York: Macmillan).
    • Reprinted in: Fisher (1997), Vol. 9. Fisher, Irving (1930b) The Stock Market Crash-And After (New York: Macmillan).
  • 34
    • 34249314319 scopus 로고    scopus 로고
    • Fisher, Irving (1997) The Works of Irving Fisher, 14 edited by William J. Barber assisted by R. Dimand and K. Foster, consulting editor J. Tobin (London: Pickering & Chatto).
    • Fisher, Irving (1997) The Works of Irving Fisher, 14 volumes, edited by William J. Barber assisted by R. Dimand and K. Foster, consulting editor J. Tobin (London: Pickering & Chatto).
  • 35
    • 34249329821 scopus 로고    scopus 로고
    • Fisher, Irving, with Brown, Harry G. (1911) The Purchasing Power of Money (New York: Macmillan). Reprinted in: Fisher (1997), 4.
    • Fisher, Irving, with Brown, Harry G. (1911) The Purchasing Power of Money (New York: Macmillan). Reprinted in: Fisher (1997), Vol. 4.
  • 36
    • 34249331238 scopus 로고    scopus 로고
    • Fisher, Irving, Kemmerer, Edwin W., Brown, Harry G., Clark, Walter E., Norton, John Pease, Rollins, Montgomery, and Sumner, G. Lynn (1912) How to Invest When Prices Are Rising: A Scientific Method of Providing for the Increasing Cost of Living (Scranton, PA: G. Lynn Sumner & Company, Publishers of Securities Review).
    • Fisher, Irving, Kemmerer, Edwin W., Brown, Harry G., Clark, Walter E., Norton, John Pease, Rollins, Montgomery, and Sumner, G. Lynn (1912) How to Invest When Prices Are Rising: A Scientific Method of Providing for the Increasing Cost of Living (Scranton, PA: G. Lynn Sumner & Company, Publishers of Securities Review).
  • 37
    • 34249289641 scopus 로고    scopus 로고
    • Tulips, Chinese IPOs Fuel Speculation
    • December 8
    • Forsyth, R. W. (2003) Tulips, Chinese IPOs Fuel Speculation, Financial Post, December 8.
    • (2003) Financial Post
    • Forsyth, R.W.1
  • 38
    • 0004320711 scopus 로고
    • 3rd edition Boston: Houghton Mifflin
    • Galbraith, John Kenneth (1972) The Great Crash 1929, 3rd edition (Boston: Houghton Mifflin).
    • (1972) The Great Crash 1929
    • Galbraith, J.K.1
  • 40
    • 0004326877 scopus 로고
    • 4th revised edition New York: Harper & Row
    • Graham, Benjamin (1973) The Intelligent Investor, 4th revised edition (New York: Harper & Row).
    • (1973) The Intelligent Investor
    • Graham, B.1
  • 41
    • 2942543365 scopus 로고
    • Chicago: University of Chicago Press
    • Hardy, Charles O, (1923) Risk and Risk-Bearing (Chicago: University of Chicago Press).
    • (1923) Risk and Risk-Bearing
    • Hardy, C.O.1
  • 42
    • 34249287615 scopus 로고
    • Risk as an Economic Factor
    • July, pp
    • Haynes, John (1895) Risk as an Economic Factor, Quarterly Journal of Economics, 9 (July), pp. 409-49.
    • (1895) Quarterly Journal of Economics , vol.9 , pp. 409-449
    • Haynes, J.1
  • 43
    • 0002401214 scopus 로고
    • A Suggestion for Simplifying the Theory of Money
    • February, pp
    • Hicks, John R. (1935) A Suggestion for Simplifying the Theory of Money, Economica, new series, 2 (February), pp. 1-19.
    • (1935) Economica, new series , vol.2 , pp. 1-19
    • Hicks, J.R.1
  • 45
    • 3042809032 scopus 로고
    • An American Study of Shares ersus Bonds as Permanent Investments
    • 2 May, Reprinted in: Keynes 1971-89, XI
    • Keynes, John Maynard (1925) An American Study of Shares ersus Bonds as Permanent Investments, The Nation and Athenaeum, 2 May, Reprinted in: Keynes (1971-89), Vol. XI.
    • (1925) The Nation and Athenaeum
    • Keynes, J.M.1
  • 46
    • 34249329518 scopus 로고    scopus 로고
    • Keynes, John Maynard ( 1971 - 89) The Collected Writings of John Maynard Keynes, 30 general eds. Donald E. Moggridge and E. A. G. Robinson, eds. Donald E. Moggridge and Elizabeth S. Johnson (London: Macmillan and New York: Cambridge University Press for the Royal Economic Society).
    • Keynes, John Maynard ( 1971 - 89) The Collected Writings of John Maynard Keynes, 30 volumes, general eds. Donald E. Moggridge and E. A. G. Robinson, volume eds. Donald E. Moggridge and Elizabeth S. Johnson (London: Macmillan and New York: Cambridge University Press for the Royal Economic Society).
  • 48
    • 0347731838 scopus 로고
    • Diversification of Planning
    • Leavens, Dickson H. (1945) Diversification of Planning, Trusts and Estates, 80, pp. 469-73.
    • (1945) Trusts and Estates , vol.80 , pp. 469-473
    • Leavens, D.H.1
  • 49
    • 14844348913 scopus 로고
    • On the Origins of Portfolio Theory
    • March, pp
    • Maes, Ivo (1991) On the Origins of Portfolio Theory, Kyklos, 44 (March), pp. 3-18.
    • (1991) Kyklos , vol.44 , pp. 3-18
    • Maes, I.1
  • 50
    • 84995186518 scopus 로고
    • Portfolio Selection
    • March, pp
    • Markowitz, Harry M. (1952) Portfolio Selection, Journal of Finance, 7 (March), pp. 77- 91.
    • (1952) Journal of Finance , vol.7 , pp. 77-91
    • Markowitz, H.M.1
  • 51
    • 10044240402 scopus 로고    scopus 로고
    • The 1929 Stock Market: Irving Fisher Was Right
    • November, pp
    • McGrattan, Ellen R,, and Prescott, Edward C. (2004) The 1929 Stock Market: Irving Fisher Was Right, International Economic Review, 45 (November), pp. 991-1009.
    • (2004) International Economic Review , vol.45 , pp. 991-1009
    • McGrattan, E.R.1    Prescott, E.C.2
  • 52
    • 46549099071 scopus 로고
    • The Equity Premium: A Puzzle
    • March, pp
    • Mehra, Rajnish, and Prescott, Edward C. (1985) The Equity Premium: A Puzzle, Journal of Monetary Economics, 15 (March), pp. 145-61.
    • (1985) Journal of Monetary Economics , vol.15 , pp. 145-161
    • Mehra, R.1    Prescott, E.C.2
  • 53
    • 34249342207 scopus 로고    scopus 로고
    • Norton, John Pease ( 1902) Statistical Studies in the New York Money Market, Preceded by a Brief Analysis under the Theory of Money and Credit, with Statistical Tables, Diagrams, and Folding Chart (New York: Macmillan, for the Department of Social Sciences, Yale University; reprinted New Haven: Tuttle, Morehouse & Taylor, 1903).
    • Norton, John Pease ( 1902) Statistical Studies in the New York Money Market, Preceded by a Brief Analysis under the Theory of Money and Credit, with Statistical Tables, Diagrams, and Folding Chart (New York: Macmillan, for the Department of Social Sciences, Yale University; reprinted New Haven: Tuttle, Morehouse & Taylor, 1903).
  • 54
    • 34249294798 scopus 로고
    • Theory of Loan Credit in Relation to Corporation Economics, Publications of the American Economic Association
    • Norton, John Pease (1904) Theory of Loan Credit in Relation to Corporation Economics, Publications of the American Economic Association, Third Series, 5 (2), pp. 34-56.
    • (1904) Third Series , vol.5 , Issue.2 , pp. 34-56
    • Norton, J.P.1
  • 55
    • 34249321529 scopus 로고
    • The Depreciation of Gold
    • Norton, John Pease (1906) The Depreciation of Gold, Yale Review, 15, pp. 293-306.
    • (1906) Yale Review , vol.15 , pp. 293-306
    • Norton, J.P.1
  • 56
    • 34249280505 scopus 로고
    • A Revised Index Number for Measuring the Rise in Prices
    • August, pp
    • Norton, John Pease (1910) A Revised Index Number for Measuring the Rise in Prices, Quarterly Journal of Economics, 24 (August), pp. 750-59.
    • (1910) Quarterly Journal of Economics , vol.24 , pp. 750-759
    • Norton, J.P.1
  • 57
    • 34249300753 scopus 로고    scopus 로고
    • Rhea, Robert (1932) The Dow Theory (New York: Barren's).
    • Rhea, Robert (1932) The Dow Theory (New York: Barren's).
  • 59
    • 34249284392 scopus 로고
    • James Harvey Rogers as an Economist
    • Stamford, CT: The Overbrook Press, pp
    • Rostow, Walt W. (1940) James Harvey Rogers as an Economist, in James Harvey Rogers 1886-1939 In Memoriam (Stamford, CT: The Overbrook Press), pp. 13-28.
    • (1940) James Harvey Rogers 1886-1939 In Memoriam , pp. 13-28
    • Rostow, W.W.1
  • 61
    • 34249297884 scopus 로고    scopus 로고
    • Sasuly, Max (1947) Irving Fisher and Social Science, Econometrica, 15 (October), pp, 255-78.
    • Sasuly, Max (1947) Irving Fisher and Social Science, Econometrica, 15 (October), pp, 255-78.
  • 63
    • 34547883669 scopus 로고    scopus 로고
    • Stabile, Donald R. (2005) Forerunners of Modern Financial Economics: A Random Walk in the History of Economic Thought, 1900-1950 (Cheltenham, UK, and Northampton, MA: Edward Elgar).
    • Stabile, Donald R. (2005) Forerunners of Modern Financial Economics: A Random Walk in the History of Economic Thought, 1900-1950 (Cheltenham, UK, and Northampton, MA: Edward Elgar).
  • 64
    • 0036396214 scopus 로고    scopus 로고
    • Irving Fisher and Statistical Approaches to Risk
    • Stabile, Donald R., and Putnam, Bluford H. (2002) Irving Fisher and Statistical Approaches to Risk, Review of Financial Economics, 11 (3), pp. 191-203.
    • (2002) Review of Financial Economics , vol.11 , Issue.3 , pp. 191-203
    • Stabile, D.R.1    Putnam, B.H.2
  • 65
    • 34249299678 scopus 로고    scopus 로고
    • Van Strum, Kenneth (1925) Investing in Purchasing Power (Boston: Barren's).
    • Van Strum, Kenneth (1925) Investing in Purchasing Power (Boston: Barren's).
  • 66
    • 34249310164 scopus 로고    scopus 로고
    • Aux origines de la mesure de performance des fonds d'investissement: Les travaux d'Alfred Cowles
    • 14 nos. l&, pp
    • Walter, Christian (1999) Aux origines de la mesure de performance des fonds d'investissement: Les travaux d'Alfred Cowles, Histoire & Mesure, 14 (nos. l& ), pp. 63-197.
    • (1999) Histoire & Mesure , pp. 63-197
    • Walter, C.1
  • 67
    • 34249279747 scopus 로고
    • New York: Columbia University Press, Studies in Histoiy, Economics and Public Law, XIV
    • Willett, A. H. (1902) Economie Theory of Risk and Insurance (New York: Columbia University Press, Studies in Histoiy, Economics and Public Law, XIV).
    • (1902) Economie Theory of Risk and Insurance
    • Willett, A.H.1
  • 68
    • 0004172409 scopus 로고
    • Cambridge, MA: Harvard University Press; reprinted Amsterdam: North-Holland, 1956
    • Williams, John Burr (1938) The Theory of Investment Value (Cambridge, MA: Harvard University Press; reprinted Amsterdam: North-Holland, 1956).
    • (1938) The Theory of Investment Value
    • Williams, J.B.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.