The Equity Premium Implied by Production
收藏NBER2006-08-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w12487
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资源简介：
This paper studies the determinants of the equity premium as implied by producers' first-order conditions. A closed form expression is presented for the Sharpe ratio at steady-state as a function of investment volatility and adjustment cost curvature. Calibrated to the U.S. postwar economy, the
提供机构：
美国国家经济研究局
创建时间：
2006-08-01
