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The Equity Premium Is No Puzzle

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Author Info

  • Kurz, M.
  • Beltratti, A.
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    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.

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    Bibliographic Info

    Paper provided by Banca Italia - Servizio di Studi in its series Papers with number 282.

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    Length: 57 pages
    Date of creation: 1996
    Date of revision:
    Handle: RePEc:fth:banita:282

    Contact details of provider:
    Postal: Banca d'Italia-Servizio Studi-Divisione Biblioteca e Pubblicazioni - Via N azionale, 91 -00184 Rome, Italy.
    Web page: http://www.bancaditalia.it/
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    Related research

    Keywords: FINANCIAL MARKET; RISK;

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    Cited by:
    1. Ellen R. McGrattan & Edward C. Prescott, 2001. "Taxes, regulations, and asset prices," Working Papers 610, Federal Reserve Bank of Minneapolis.
    2. Ellen R. McGrattan & Edward C. Prescott, 2000. "Is the stock market overvalued?," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Fall, pages 20-40.
    3. Gregorio Impavido & Esperanza Lasagabaster & Manuel Garcia-Huitron, 2010. "New Policies for Mandatory Defined Contribution Pensions : Industrial Organization Models and Investment Products," World Bank Publications, The World Bank, number 2462, October.
    4. Christophe Faugere & Julian Van Erlach, 2003. "The Equity Premium: Explained by GDP Growth and Consistent with Portfolio Insurance," Finance 0311004, EconWPA.

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