Composition of Wealth, Conditioning Information, and the Cross-Section of Stock Returns
收藏NBER2010-06-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w16073
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资源简介：
Value stocks covary with aggregate consumption more than growth stocks during periods when financial wealth is low relative to consumption. However, the conditional value premium does not exhibit such countercyclical behavior. Consequently, a one-factor conditional consumption-based asset pricing
提供机构：
美国国家经济研究局
创建时间：
2010-06-01
