Excess Volatility: Beyond Discount Rates
收藏NBER2016-02-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w22045
下载链接
链接失效反馈官方服务：
资源简介：
We document a form of excess volatility that is irreconcilable with standard models of prices, even after accounting for variation in discount rates. We compare prices of claims on the same cash flow stream but with different maturities. Standard models impose precise internal consistency conditions
提供机构：
美国国家经济研究局
创建时间：
2016-02-01
