Cysne, Rubens Penha - Associação dos Centros de Pós-Graduação em … - 2005
This paper uses 1992:1-2004:2 quarterly data and two diferent methods (approximation under lognormality and calibration) to evaluate the existence of an equity- premium puzzle in Brazil. In contrast with some previous works in the Brazilian literature, I conclude that the model used by Mehra and...