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Was expansionary monetary policy feasible during the great contraction? : An examination of the gold standard constraint
Bordo, Michael D.; Choudhri, Ehsan U.; Schwartz, Anna … - In: Explorations in economic history : EEH 39 (2002) 1, pp. 1-28
Persistent link: https://www.econbiz.de/10001644262
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Income uncertainty and consumer spending during the Great Depression
Greasley, David; Madsen, Jakob Brøchner; Oxley, Les - In: Explorations in economic history : EEH 38 (2001) 2, pp. 225-251
Persistent link: https://www.econbiz.de/10001572478
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Myopic loss aversion, bond returns and the equity premium puzzle
Jagd, Philip; Madsen, Jakob Brøchner - In: Applied financial economics 19 (2009) 16/18, pp. 1383-1390
In an influential paper Bernatzi and Thaler (1995) (B&T) show that Myopic Loss Aversion (MLA) can explain the equity premium in the US over the period 1926 to 1990. However, bond returns, in their simulations, are based on coupons only. Allowing for capital gains on bonds in the simulations...
Persistent link: https://www.econbiz.de/10003886198