Long-Run Risk is the Worst-Case Scenario
收藏NBER2016-07-01 更新2025-01-04 收录
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https://www.nber.org/papers/w22416
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资源简介：
We study an investor who is unsure of the dynamics of the economy. Not only are parameters unknown, but the investor does not even know what order model to estimate. She estimates her consumption process nonparametrically allowing potentially infinite-order dynamics and prices assets using a
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美国国家经济研究局创建时间：
2016-07-01
