Showing 1 - 10 of 29
Persistent link: https://www.econbiz.de/10001738878
This article takes a critical look at the equity premium puzzle the inability of standard intertemporal economic models to rationalize the statistics that have characterized U.S. financial markets over the past century. A summary of historical returns for the United States and other...
Persistent link: https://www.econbiz.de/10012469191
Persistent link: https://www.econbiz.de/10003461655
Persistent link: https://www.econbiz.de/10011450332
Persistent link: https://www.econbiz.de/10011450383
Persistent link: https://www.econbiz.de/10002619779
Persistent link: https://www.econbiz.de/10001741299
Persistent link: https://www.econbiz.de/10001832893
We explore the consequences for asset pricing of admitting a bequest motive into an otherwise standard overlapping generations model where agents trade equity and perpetual debt securities. Prices of securities are seen to be approximately 50% higher in an economy with bequests as compared to an...
Persistent link: https://www.econbiz.de/10012783801
We evaluate the properties of mean reversion and mean aversion in asset prices and returns as commonly characterized in the finance literature. The study is undertaken within a class of well-known dynamic stochastic general equilibrium models and shows that the mean reversion/aversion...
Persistent link: https://www.econbiz.de/10012893576