Assessing the risks of asset overvaluation: models and challenges

Propuesta de nuevos métodos para calcular las bandas de confianza para los valores fundamentales de las acciones y los bonos corporativos.
  • 26 Mayo 2017

Por Sara Cecchetti y Marco Taboga

Banco de Italia Working Paper No. 1114.

Abstract

We propose methods to compute confidence bands for the fundamental values of stocks and corporate bonds. These methods take into account uncertainty about future cash flows and about the discount factors used to discount the cash flows. We use them to assess the current degree of under-/over-valuation of asset prices. We find no evidence of over-valuation of the stocks and corporate bonds of the major economies.

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