volatility of excess stock market returns, often referred to as the risk-return relation. Unfortunately, the body of empirical … the relatively small amount of conditioning information used to model the conditional mean and conditional volatility of … conditioning variables, measures of conditional mean and conditional volatility--and ultimately the risk-return relation itself …

We quantify the effect of financial leverage on stock return volatility in a dynamic general equilibrium economy with … generates little variation in stock return volatility at the market level but significant variation at the individual firm level … stock return volatility at the market and firm level. In such an economy, financial leverage has little effect on the …

episode of Argentina. In particular, we try to account for the shifts in maturity structure before crisis and the volatility …