Searching for the Equity Premium
收藏NBER2020-10-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w28001
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资源简介：
Labor market frictions are crucial for the equity premium in production economies. A dynamic stochastic general equilibrium model with recursive utility, search frictions, and capital accumulation yields a high equity premium of 4.26% per annum, a stock market volatility of 11.8%, and a low average
提供机构：
美国国家经济研究局
创建时间：
2020-10-01
