Valuation Risk and Asset Pricing
收藏NBER2012-12-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w18617
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资源简介：
Standard representative-agent models fail to account for the weak correlation between stock returns and measurable fundamentals, such as consumption and output growth. This failing, which underlies virtually all modern asset-pricing puzzles, arises because these models load all uncertainty onto the
提供机构：
美国国家经济研究局
创建时间：
2012-12-01
