Macroeconomic Fluctuations and Equilibrium Discount Factors /

The estimation of discount factors is a central issue in empirical finance, particularly in the literature on excess volatility. In particular, it is difficult to find empirical discount factors that are volatile enough to account for fluctuations in asset prices. This paper constructs discount fact...

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Bibliografske podrobnosti
Glavni avtor: Kramer, Charles
Format: Revija
Jezik:English
Izdano: Washington, D.C. : International Monetary Fund, 1996.
Serija:IMF Working Papers; Working Paper ; No. 1996/118
Online dostop:Full text available on IMF

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