Campbell, Cynthia J; Kazemi, Hossein B; Nanisetty, Prasad - In: Review of Financial Studies 12 (1999) 3, pp. 631-42
This article uses bond market data to empirically test the asset pricing model of Kazemi (1992). According to this model the rate of return on a long-term, pure-discount, default-free bond will be perfectly correlated with changes in the marginal utility of the representative investor. The...
