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Long-Run Risks and Financial Markets

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NBER2007-06-01 更新2025-01-04 收录
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The recently developed long-run risks asset pricing model shows that concerns about long-run expected growth and time-varying uncertainty (i.e., volatility) about future economic prospects drive asset prices. These two channels of economic risks can account for the risk premia and asset price

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2007-06-01
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