The Present Value Model of Rational Commodity Pricing
收藏NBER1992-05-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w4083
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资源简介：
The present value model relates an asset's price to the sum of its discounted expected future payoffs. I explore the limits of the model by testing its ability to explain the pricing of storable commodities. For commodities the payoff stream is the convenience yield that accrues from holding
提供机构：
美国国家经济研究局
创建时间：
1992-05-01
