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Abel (2002) shows that pessimism and doubt in the subjective distribution of the growth rate of consumption reduce the riskfree rate puzzle and the equity premium puzzle. We quantify the amount of pessimism and doubt in survey data on US consumption and income. Individual forecasters are in fact...
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This paper investigates the relative labor productivity level for total manufacturing in Germany, Sweden and the US for … since 1998 Swedish RTC productivity has been declining relative to the corresponding industry in Germany and the US …
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