Evaluating Asset Pricing Models with Limited Commitment using Household Consumption Data
收藏NBER2007-11-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w13650
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资源简介：
We evaluate the asset pricing implications of a class of models in which risk sharing is imperfect because of limited enforcement of intertemporal contracts. Lustig (2004) has shown that in such a model the asset pricing kernel can be written as a simple function of the aggregate consumption growth
提供机构：
美国国家经济研究局
创建时间：
2007-11-01
