Bollerslev, Tim; Todorov, Viktor - 2009
School of Economics and Management
Aarhus University
Bartholins Allé 10, Building 1322, DK-8000 Aarhus C
Denmark … from
the NSF to the NBER and CREATES funded by the Danish National Research Foundation.
yDepartment of Economics, Duke … results hold the promise of a better understanding of the
economics behind the historically large average equity and variance …