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Unformatted text preview: • A scaled measure of how much two variables move together • 1 1 Regression, Beta=.5, corr=.93 Normal Distribution Normal Versus FatTailed Present Discounted Value (PDV) • PDV of a dollar in one year = 1/(1+r) • PDV of a dollar in n years = 1/(1+r) n • PDV of a stream of payments x 1 ,.., x n Consol and Annuity Formulas • Consol pays constant quantity x forever • Growing consol pays x (1+ g )^( t1) in t • Annuity pays x from time 1 to T...
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This note was uploaded on 02/08/2012 for the course ECON 252 taught by Professor Robertshiller during the Spring '08 term at Yale.
 Spring '08
 RobertShiller

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