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Efficient "myopic" asset pricing in general equilibrium : a potential pitfall in excess volatility tests
Buiter, Willem H. - 1987
Persistent link: https://www.econbiz.de/10009572007
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Efficient "myopic" asset pricing in general equilibrium : a potential pitfall in excess volatility tests
Buiter, Willem H. - In: Economics letters 2 (1987), pp. 143-148
Persistent link: https://www.econbiz.de/10001037781
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Efficient "Myopic" Asset Pricing in General Equilibrium : a Potential Pitfall in Excess Volatility Tests
Buiter, Willem H. - 2010
Excess volatility tests for financial market efficiency maintain the hypothesis of risk-neutrality. This permits the specification of the benchmark efficient market price as the present discounted value of expected future dividends. By departing from the risk-neutrality assumption in a...
Persistent link: https://www.econbiz.de/10012762911
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Efficient "Myopic" Asset Pricing in General Equilibrium : A Potential Pitfall in Excess Volatility Tests
Buiter, Willem H. - 1987
Excess volatility tests for financial market efficiency maintain the hypothesis of risk-neutrality. This permits the specification of the benchmark efficient market price as the present discounted value of expected future dividends. By departing from the risk-neutrality assumption in a...
Persistent link: https://www.econbiz.de/10012476817
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James Tobin : an appreciation of his contribution to economics
Buiter, Willem H. - London School of Economics (LSE) - 2003
twentieth century and the greatest macroeconomist of his generation. Tobin’s influence on macroeconomic theory is so pervasive …-variance portfolio demand and asset pricing theory, especially the Portfolio Separation Theorem; pitfalls in financial model building …’s approach to methodological questions including microfoundations and aggregation. …
Persistent link: https://www.econbiz.de/10011071326
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A Portfolio Approach to a Cross-sectoral and Cross-National Investment Strategy in Transition Economies
Buiter, Willem H.; Lago, Ricardo; Rey, Hélène - C.E.P.R. Discussion Papers - 1997
provisioning rules from the perspective of portfolio theory. …
Persistent link: https://www.econbiz.de/10005661678
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Central banks and financial crises
Buiter, Willem H. - London School of Economics (LSE) - 2008
The paper draws lessons from the experience of the past year for the conduct of central banks in the pursuit of macroeconomic and financial stability. Macroeconomic stability is defined as either price stability or as price stability and sustainable output or employment growth. Financial...
Persistent link: https://www.econbiz.de/10010745389
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Government solvency, Ponzi finance and the redundancy and usefulness of public debt
Buiter, Willem H.; Kletzer, Kenneth - 1992
Persistent link: https://www.econbiz.de/10000838344
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Can public spending cuts be inflationary?
Buiter, Willem H. - 1988
Persistent link: https://www.econbiz.de/10000747473
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Debt neutrality, redistribution and consumer heterogeneity : a survey and some extensions
Buiter, Willem H. - 1988
Persistent link: https://www.econbiz.de/10000749793