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The long run behavior of the S&P Composite Price Index and its risk premium

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Figure

Table 1 – Statistical tests on the coefficients of the regressions in Equations 13 a and b
Figure 3 – The implied discount rates of the firm, RF, and investor, RI, plotted together asfunctions of time
Figure 5 – The implied discount rate of the investor, RI, and realised rate of return of the market,RM, plotted together as functions of time.
Figure 7 – The implied discount rates of the firm, RF, and investor, RI, plotted together over thepost-transition period 1950-1998.
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