Rare Events and the Equity Premium
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下载链接：
https://www.nber.org/papers/w11310
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资源简介：
The allowance for low-probability disasters, suggested by Rietz (1988), explains a lot of puzzles related to asset returns and consumption. These puzzles include the high equity premium, the low risk-free rate, the volatility of stock returns, and the low values of typical macro-econometric
提供机构：
美国国家经济研究局
创建时间：
2005-05-01
