An Equilibrium Theory of Excess Volatility and Mean Reversion in Stock Market Prices
收藏NBER1989-09-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w3106
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资源简介：
Apparent mean reversion and excess volatility in stock market prices can be reconciled with the Efficient Market Hypothesis by specifying investor preferences that give rise to the demand for portfolio insurance. Therefore, several supposed macro anomalies can be shown to be consistent with a
提供机构：
美国国家经济研究局
创建时间：
1989-09-01
