| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5099648 | Journal of Economic Dynamics and Control | 2007 | 30 Pages |
Abstract
We show (both analytically and numerically) that the equity premium can be higher in a production based asset pricing model than it is in the consumption based asset pricing model, even when the real output level is the same in both models.
Keywords
Related Topics
Physical Sciences and Engineering
Mathematics
Control and Optimization
Authors
Levent Akdeniz, W. Davis Dechert,