The Equity Premium Is No Puzzle
M. Kurz and
Working Papers from Banca Italia - Servizio di Studi
We examine the equity premium pizzle with the prespective of the theory of Rational Beliefs Equilibrium (RBE) and show that from the perspective of this theory there is no puzzle.
Keywords: FINANCIAL MARKET; RISK (search for similar items in EconPapers)
JEL-codes: G10 G12 (search for similar items in EconPapers)
Pages: 57 pages
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Working Paper: The Equity Premium is No Puzzle
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