The Long-Run Risks Model and Aggregate Asset Prices: An Empirical Assessment
收藏NBER2009-03-01 更新2025-01-04 收录
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https://www.nber.org/papers/w14788
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The long-run risks model of asset prices explains stock price variation as a response to persistent fluctuations in the mean and volatility of aggregate consumption growth, by a representative agent with a high elasticity of intertemporal substitution. This paper documents several empirical
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美国国家经济研究局创建时间：
2009-03-01
