A consumption-based asset pricing model with risk and uncertainty implies that the time-varying exposures of equity … portfolios to the market and uncertainty factors carry positive risk premiums. The empirical results from the size, book … (individual stocks) with market and uncertainty predict the time series and cross-sectional variation in stock returns. We find …

A conditional asset pricing model with risk and uncertainty implies that the time-varying exposures of equity … portfolios to the market and uncertainty factors carry positive risk premiums. The empirical results from the size, book … (individual stocks) with market and uncertainty predict the time-series and cross-sectional variation in stock returns. We find …

A conditional asset pricing model with risk and uncertainty implies that the time-varying exposures of equity … portfolios to the market and uncertainty factors carry positive risk premiums. The empirical results from the size, book … (individual stocks) with market and uncertainty predict the time-series and cross-sectional variation in stock returns. We find …