Excess volatility tests for financial market efficiency maintain the hypothesis of risk-neutrality. This permits the … from the risk-neutrality assumption in a stripped-down version of Lucas's general equilibrium asset pricing model, I show … variance bounds established under the assumption of risk neutrality. This can occur even without the problems of non …

Excess volatility tests for financial market efficiency maintain the hypothesis of risk-neutrality. This permits the … from the risk-neutrality assumption in a stripped-down version of Lucas's general equilibrium asset pricing model, I show … variance bounds established under the assumption of risk neutrality. This can occur even without the problems of non …

provisioning rules from the perspective of portfolio theory. …

country risk, the paper discusses a number of modifications in the standard theory of efficient international financial … markets that are necessitated by the existence of country risk., For macroeconomic policy, the major implications are that …

country risk, the paper discusses a number of modifications in the standard theory of efficient international financial … markets that are necessitated by the existence of country risk., For macroeconomic policy, the major implications are that …