The Equity Premium
The Equity Premium in India
... the Equity Premium in the Indian context and review the related ...The equity premium is the returned earned by a well-diversified stock portfolio in excess of that earned by a risk free ...
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The size of the equity premium
... the equity premium by 25 basis points). The equity premium is also very reactive to the defalult premium, measured by the differential between aaa-rated and baa-rated bonds: a 1 ...
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The equity premium puzzle: High required equity premium, undervaluation and self fulfilling prophecy
... Abel (1991) hoped that “incorporating differences among investors or more general attitudes toward risk can explain the various statistical properties of asset returns.” Bakshi and Chen (1994) noted an increase in risk ...
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Luxury Goods and the Equity Premium
... In sum, our estimates based on high-end luxury consumption suggest an entirely different picture of the risk of equity than nondurable consumption in the NIPA. IV. Robustness and Extensions We now turn to ...
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Luxury Goods and the Equity Premium
... on equity and their consumption covaries less with the ...the equity premium ...an equity premium puzzle with respect to aggregate consumption and stock ...both equity and ...
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The Equity Premium Implied by Production
... Contrary to the consumption side, the production side of asset pricing has received considerably less attention. Focusing on the production side shifts the burden towards representing production technologies and ...
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The equity premium in 150 textbooks
... - Further the problems extend to the evaluation of betas. We may also discern historic betas and expected betas. - Indeed, the ineffable character of the equity premium join with its central role in ...
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The Equity Premium and the One Percent
... This paper has two main contributions. First, we theoretically explore the asset pricing implications of general equilibrium models with heterogeneous agents. In a two period economy populated by CRRA agents with ...
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Macroeconomic volatility and the equity premium
... Mean Equity Premium Figure 9 shows that the calculated equity premium rises with the persistence of volatility ...mean premium. Under the baseline calibration, the mean equity ...
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Discounting The Equity Premium Puzzle
... the equity premium ...a premium is due to particular cardinal choices of either the utility func- tion or the underlying returns distribution, or ...observed equity premium indeed ...
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The Equity Premium and the Baby Boom
... historical equity premium by a large margin and generates only small asset market effects over a simulated Baby ...historical equity premium and suggests that there will be a sharp rise in the ...
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A meta-analysis of the equity premium
... the equity premium The equity premium is a crucial parameter in today’s financial decision ...the equity premium and provide benchmark values that are useful for economists, ...
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New Forecasts of the Equity Premium
... the equity premium can be predicted by financial variables such as the dividend or earnings yield (Rozeff, 1984, Keim and Stambaugh, 1986, Campbell and Shiller, 1988ab, Fama and French, 1988 and 1989, ...
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Social discounting and the equity premium
... the equity premium (in particular, today, the consumption ...that equity market premiums, which are very much higher than would be estimated from neoclassical analysis (the equity ...
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The Precision of Unconditional Estimators of the Equity Premium
... the equity premiums obtained from arithmetic returns of the S&P 500, the point estimates range between ...the equity premium. All average equity premiums are statistically significantly ...
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The Equity Premium: It s Still a Puzzle
... the equity premium. Like fiat money, the equity premium appears to be a widespread and persistent phenomenon of market ...the equity premium tells us that, like money, the ...
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The 6D Bias and the Equity Premium Puzzle
... Lynch (1996) and Marshall and Parekh (1999) have simulated discrete-time delayed adjustments models and demonstrated that these models can potentially explain the equity premium puzzle. 2 In light of the ...
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Macroeconomic Perspectives on the Equity Premium Puzzle
... Chapter 3 is based on De Vries and Zenhorst (2012). Limited stock market partic- ipation has been proposed as a resolution to the equity premium puzzle. The idea is that stockholders’ consumption growth is ...
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Cross-sectional forecasts of the equity premium $
... the equity-premium in the second half of the ...beta premium a good predictor of the return of high-beta stocks relative to that of low-beta stocks, the divergence of the two types of ...
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The equity premium: a puzzle
... Intuitively, the reason why the low average real return and high average return on equity cannot simultaneously be rationalized in a perfect market framework is as[r] ...
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