Prices, Consumption, and Dividends Over the Business Cycle: A Tale of Two Regimes
收藏NBER2014-11-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w20678
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资源简介：
An economy in which investors know the true model and its parameters and filter the regime probability from aggregate consumption history has been empirically rejected. Hypothesizing that prices partly reflect investors belief about the regime, we infer beliefs from prices. The model fits well the
提供机构：
美国国家经济研究局
创建时间：
2014-11-01
