Swedish stocks, bonds, bills and inflation (1919–1990)

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Abstract
Cumulative index series for the Swedish security markets: common stocks, long-term government bonds, short-term risk free interest rate, consumer prices and the exchange rate SEK/$ are presented. The period under consideration is from 1919 to 1990. The series are presented as annual year-end figures but are all calculated from monthly data. It is for the first time that the index for common stocks is presented for such a long period. The summary statistics of the Swedish security markets are also presented and the results from the American security markets are used as a reference. The long time period makes it possible,to estimate the sign of the relevant risk premiums as well as the existence of mean reversion in stock returns for long investment horizons.