15 Real Annual Return on S&P 500,1889-2000 (percent) 60 40 1889 697 91 g17 2 41 -20 .40 60 Year Source:Mehra and Prescott (1985).Data updated by the authors. Figure 515 Real Annual Return on S&P 500, 1889-2000 (percent) -60 -40 -20 0 2 0 4 0 6 0 1889 1893 1897 1901 1905 1909 1913 1917 1921 1925 1929 1933 1937 1941 1945 1949 1953 1957 1961 1965 1969 1973 1977 1981 1985 1989 1993 1997 Year Percent Source: Mehra and Prescott (1985). Data updated by the authors. Figure 5