Indian Equity Markets: Measures of Fundamental Value
NBER Working Paper No. 16061
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Prepared for the India Policy Forum. I thank Surjit Bhalla, Barry Bosworth, Ajay Shay and the participants of the India Policy Forum for their helpful comments; Ellen McGrattan, Edward Prescott and especially John Donaldson for many helpful discussions and Viral Shah for his excellent research assistance. The usual caveat applies. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.