Expectations and Asset Prices with Heterogeneous Households

Monika Piazzesi () and Martin Schneider ()

No 828, 2006 Meeting Papers from Society for Economic Dynamics

Abstract: This paper uses a temporary equilibrium framework to evaluate the impact of expectations on asset valuation. The model determines asset prices as a function of asset supply as well as the distribution of household endowments and expectations, which is matched to survey data.

Keywords: asset; pricing (search for similar items in EconPapers)
JEL-codes: G12 (search for similar items in EconPapers)
Date: 2006-12-03

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Persistent link: http://EconPapers.repec.org/RePEc:red:sed006:828

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