Consumption Risk and Expected Stock Returns
收藏NBER2003-03-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w9548
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资源简介：
Following the textbook C-CAPM, the consumption risk of an asset is typically measured as the contemporaneous covariance of the marginal utility of consumption and the return on that asset. When measured this way, consumption risk is too small to explain the observed equity premium, is negatively
提供机构：
美国国家经济研究局
创建时间：
2003-03-01
