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Asset Pricing Lessons for Modeling Business Cycles

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NBER1995-09-01 更新2025-01-04 收录
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We develop a model which accounts for the observed equity premium and average risk free rate, without implying counterfactually high risk aversion. The model also does well in accounting for business cycle phenomena. With respect to the conventional measures of business cycle volatility and

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1995-09-01
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