Pricing Assets in an Economy with Two Types of People
收藏NBER2016-05-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w22228
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资源简介：
This paper constructs a general equilibrium model with two types of people where asset price fluctuations are caused by random shocks to the price level that reallocate consumption across generations. In this model, asset prices are volatile, and price-earnings ratios are persistent, even though
提供机构：
美国国家经济研究局
创建时间：
2016-05-01
