{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2022,4,2]],"date-time":"2022-04-02T16:03:45Z","timestamp":1648915425856},"reference-count":0,"publisher":"Cambridge University Press (CUP)","issue":"4","license":[{"start":{"date-parts":[[2009,2,11]],"date-time":"2009-02-11T00:00:00Z","timestamp":1234310400000},"content-version":"unspecified","delay-in-days":4516,"URL":"https:\/\/www.cambridge.org\/core\/terms"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Econom. Theory"],"published-print":{"date-parts":[[1996,10]]},"abstract":"<jats:p>In \u201cModeling Stock Prices without Knowing How to Induce Stationarity\u201d (1994, <jats:italic>Econometric Theory<\/jats:italic> 10, 701\u2013719), we used posterior-odds calculations to evaluate restrictions imposed by a present-value model of stock prices across the equations of a VAR representation of stock prices and dividends. The results we reported are tainted by the omission of two factors: the Jacobians induced by the mapping of our priors over VAR parameters \u03b2 into the restricted sample spaces relevant under hypotheses H<jats:sub>2<\/jats:sub>-H<jats:sub>4<\/jats:sub> (hence, tainting our calculations of <jats:italic>p<\/jats:italic>(<jats:italic>H<jats:sub>i<\/jats:sub><\/jats:italic>|y,X) in (22) for i = 2\u20134), and an integrating constant needed in calculating the unrestricted probability <jats:italic>p<\/jats:italic>(<jats:italic>H<jats:sub>i<\/jats:sub><\/jats:italic>|y,X) in (22). Table 1 reports our revised calculations, which differ substantively from those reported previously.<\/jats:p>","DOI":"10.1017\/s0266466600007027","type":"journal-article","created":{"date-parts":[[2009,3,10]],"date-time":"2009-03-10T15:39:04Z","timestamp":1236699544000},"page":"739-740","source":"Crossref","is-referenced-by-count":0,"title":["Modeling Stock Prices without Knowing How to Induce Stationarity"],"prefix":"10.1017","volume":"12","author":[{"given":"David N.","family":"Dejong","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Charles H.","family":"Whiteman","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"56","published-online":{"date-parts":[[2009,2,11]]},"container-title":["Econometric Theory"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/www.cambridge.org\/core\/services\/aop-cambridge-core\/content\/view\/S0266466600007027","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2019,5,12]],"date-time":"2019-05-12T20:21:03Z","timestamp":1557692463000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.cambridge.org\/core\/product\/identifier\/S0266466600007027\/type\/journal_article"}},"subtitle":["Corrigendum"],"short-title":[],"issued":{"date-parts":[[1996,10]]},"references-count":0,"journal-issue":{"issue":"4","published-print":{"date-parts":[[1996,10]]}},"alternative-id":["S0266466600007027"],"URL":"https:\/\/doi.org\/10.1017\/s0266466600007027","relation":{},"ISSN":["0266-4666","1469-4360"],"issn-type":[{"value":"0266-4666","type":"print"},{"value":"1469-4360","type":"electronic"}],"subject":[],"published":{"date-parts":[[1996,10]]}}}