The recent ascent in stock prices: how exuberant are you?

John Carlson ()

Economic Commentary, 1999, issue Aug

Abstract: Soaring stock prices continue to pit those who claim that investors are paying too much against those who believe stocks are worth even more. Prices of stocks are determined by people's perceptions of worth, which are themselves based on expectations for the future Although we cannot be sure whether the market is over- or undervalued, we can clarify the factors that determine stock prices and discover the assumptions underlying our expectations. Assessing the consistency of these assumptions may help keep our exuberance in check.

Keywords: economic conditions - United States; Stock - Prices (search for similar items in EconPapers)
Date: 1999
References: Add references at CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://fraser.stlouisfed.org/title/4515/item/627705 Full Text (text/html)
https://www.clevelandfed.org/-/media/project/cleve ... rant-are-you-pdf.pdf Full Text (application/pdf)

Related works:
Journal Article: The recent ascent in stock prices: how exuberant are you? (1999)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedcec:y:1999:i:aug15

Ordering information: This journal article can be ordered from

Access Statistics for this article

More articles in Economic Commentary from Federal Reserve Bank of Cleveland Contact information at EDIRC.
Bibliographic data for series maintained by 4D Library ().