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The Equity Premium Is No Puzzle

M. Kurz and Andrea Beltratti

Working Papers from Banca Italia - Servizio di Studi

Abstract: 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
Date: 1996
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