Adam, Klaus (contributor); Marcet, Albert (contributor); … - 2008
and thereby excess volatility, persistence of price-dividend ratios, long-horizon return predictability and a risk premium … performance. Learning causes mo-
mentum and mean reversion of returns and thereby excess volatility, per-
sistence of price … Class. No.: G12, D84
Keywords: asset pricing, learning, near-rational price forecasts
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ECB
Working Paper Series No 862 …