Rational Pessimism, Rational Exuberance, and Asset Pricing Models
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The paper estimates and examines the empirical plausibiltiy of asset pricing models that attempt to explain features of financial markets such as the size of the equity premium and the volatility of the stock market. In one model, the long run risks model of Bansal and Yaron (2004), low frequency
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美国国家经济研究局创建时间：
2007-05-01
