New Forecasts of the Equity Premium
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下载链接：
https://www.nber.org/papers/w10406
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资源简介：
If investors are myopic mean-variance optimizers, a stock's expected return is linearly related to its beta in the cross section. The slope of the relation is the cross-sectional price of risk, which should equal the expected equity premium. We use this simple observation to forecast the equity
提供机构：
美国国家经济研究局
创建时间：
2004-04-01
