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traditional asset pricing models. To accomplish this task, we suggest new empirical measures based on the disagreement among … matters for asset pricing we turn our attention to estimating a structural model in which we use the forecasts of financial … help explain asset pricing puzzles …
Persistent link: https://www.econbiz.de/10005342284
This paper explores the quantitative impact of the Baby Boom on stock and bond returns. It constructs a neoclassical growth model with overlapping generations, in which agents make a portfolio decision over risky capital and safe bonds in zero net supply. The model has exogenous technology and...
Persistent link: https://www.econbiz.de/10005328938