This paper characterizes the forces that determine time-variation in expected international asset returns. We offer a number of innovations. By using the latent factor technique, we do not have to prespecify the sources of risk. We solve for the latent premiums and characterize their...

[fre] Depuis les travaux de Cournot sur le duopole en 1838, la théorie de l'oligopole n'a progressé que lentement, ouvrant parfois la voie à l'étude d'autres formes de marché telles que celle de la concurrence monopolistique.. Il a semblé intéressant de déterminer les entreprises qui...

This paper characterizes the forces that determine time-variation in expected international asset returns. We offer a number of innovations. By using the latent factor technique, we do not have to prespecify the sources of risk. We solve for the latent premiums and characterize their...