Financial Innovation, Market Participation and Asset Prices
收藏数据链接：
官方服务：
资源简介：
This paper investigates the pricing effects of financial innovation in an economy with endogenous participation and heterogeneous income risks. The introduction of non-redundant assets endogenously modifies the participation set, reduces the covariance between dividends and participants' consumption
提供机构：
美国国家经济研究局创建时间：
2003-07-01
