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Risk and Return: Consumption versus Market Beta

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NBER1984-07-01 更新2025-01-04 收录
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The interaction between the macroeconomy and asset markets is central to a variety of modern theories of the business cycle. Much recentwork emphasizes the joint nature of the consumption decision and the portfolio allocation decision. In this paper, we compare two formulations of the Capital Asset

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1984-07-01
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