Showing 1 - 10 of 16,390
Two broad classes of consumption dynamics - long-run risks and rare disasters - have proven successful in explaining the equity premium puzzle when used in conjunction with recursive preference. We show that bounds a-la Gallant, Hansen and Tauchen (1990) that restrict the volatility of the...
Persistent link: https://www.econbiz.de/10012938615
Persistent link: https://www.econbiz.de/10003310328
Persistent link: https://www.econbiz.de/10011446201
In this paper we study the role of household portfolio rebalancing channel for the aggregate and redistributive effects … subsequent wealth effect on consumption. In order to jointly study these effects, we introduce an heterogeneous household life … reduction in expected return on household portfolio. However, the strength of these two forces notably varies depending on …
Persistent link: https://www.econbiz.de/10013321564
Persistent link: https://www.econbiz.de/10012153264
Persistent link: https://www.econbiz.de/10001721369
Persistent link: https://www.econbiz.de/10002612968
by directly applying economic theory or by examining simple parametric models to identify the coarse features of the …
Persistent link: https://www.econbiz.de/10010238701
Persistent link: https://www.econbiz.de/10003384712
Persistent link: https://www.econbiz.de/10003726352