Quickly apply original, key PMR-published papers with Snapshots—a short article companion that distills PMR research into compressed, digestible takeaways, so you can put the paper’s core ideas to work in your investment process—fast. This Snapshot is based on an article about the possible link between the Great Moderation and the long rise in CAPE. The author argues that lower macroeconomic volatility may have reduced risk premiums, helping valuations climb and stabilize, while warning that a reversal in those conditions could pressure market valuations.
Derived from original PMR research written by Serkan Akbay and Alexander Maximilian Röser using AI and an editor (Wed,) studied this question.