Risks for the Long Run: A Potential Resolution of Asset Pricing Puzzles
收藏NBER2000-12-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w8059
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资源简介：
We model dividend and consumption growth rates as containing a small long-run predictable component and economic uncertainty (i.e., growth rate volatility) as being time-varying. The magnitudes of the predictable variation and changing volatility in growth rates, as in the data, are quite small.
提供机构：
美国国家经济研究局
创建时间：
2000-12-01
