Equity Premia with Benchmark Levels of Consumption: Closed-Form Results
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下载链接：
https://www.nber.org/papers/w12290
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资源简介：
I calculate exact expressions for risk premia, term premia, and the premium on levered equity in a framework that includes habit formation, keeping/catching up with the Joneses, and possible departures from rational expectations. Closed-form expressions for the first and second moments of returns
提供机构：
美国国家经济研究局
创建时间：
2006-06-01
