Asset Pricing with Heterogeneous Consumers and Limited Participation: Empirical Evidence
收藏NBER2002-03-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w8822
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资源简介：
We present evidence that the equity premium and the premium of value stocks over growth stocks are explained in the 1982 1996 period with a stochastic discount factor (SDF) calculated as the weighted average of individual households' marginal rate of substitution with low and economically plausible
提供机构：
美国国家经济研究局
创建时间：
2002-03-01
