The Virtue of Complexity in Return Prediction
收藏NBER2022-07-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w30217
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资源简介：
Much of the extant literature predicts market returns with simple models that use only a few parameters. Contrary to conventional wisdom, we theoretically prove that simple models severely understate return predictability compared to complex models in which the number of parameters exceeds the
提供机构：
美国国家经济研究局
创建时间：
2022-07-01
