Canova, Fabio; Nicoló, Gianni De - In: IMF Staff Papers 50 (2003) 2, pp. 4-4
We examine the relationship between the equity premium and the risk-free rate over time for Group of Seven countries. We show the existence of subsample instabilities, cross-country differences, and examine whether a consumption-based CAPM model is able to explain the heterogeneity of the data...
