Market incompleteness and the equity premium puzzle : evidence from state-level data
Year of publication: |
2013
|
---|---|
Authors: | Jacobs, Kris ; Pallage, Stéphane J. ; Robe, Michel A. |
Published in: |
Journal of banking & finance. - Amsterdam [u.a.] : Elsevier, ISSN 0378-4266, ZDB-ID 752905-3. - Vol. 37.2013, 2, p. 378-388
|
Subject: | Heterogeneity | Idiosyncratic consumption risk | Incomplete markets | Consumption-based asset pricing model | Risk aversion | Equity premium puzzle | Theorie | Theory | CAPM | Risikoprämie | Risk premium | Unvollkommener Markt | Incomplete market | Equity-Premium-Puzzle | Risikoaversion | Privater Konsum | Private consumption | Kapitaleinkommen | Capital income | Risiko | Risk |
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