A Parsimonious Macroeconomic Model for Asset Pricing: Habit Formation or Cross-sectional Heterogeneity?
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- Fatih Guvenen, 2005. "A Parsimonious Macroeconomic Model for Asset Pricing: Habit Formation of Cross-sectional Heterogeneity?," Finance 0507009, University Library of Munich, Germany.
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More about this item
Keywords
Limited stock market participation; asset pricing; the equity premium puzzle; incomplete markets; habit formation; elasticity of intertemporal substitution.;All these keywords.
JEL classification:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
- G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
NEP fields
This paper has been announced in the following NEP Reports:- NEP-CFN-2003-04-02 (Corporate Finance)
- NEP-DGE-2003-04-02 (Dynamic General Equilibrium)
- NEP-FIN-2003-04-02 (Finance)
Statistics
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