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Edited by Rajnish Mehra, this volume focuses on the equity risk premium puzzle, a term coined by Mehra and Prescott in 1985 which encompasses a number of empirical regularities in… Read more
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Dedication
List of Contributors
Preface
Introduction to the Series
Chapter 1: The Equity Premium: ABCs
Chapter 2: Risk-Based Explanations of the Equity Premium
Chapter 3: Non-Risk-based Explanations of the Equity Premium
Chapter 4: Equity Premia with Benchmark Levels of Consumption: Closed-Form Results
Discussion: Equity Premia with Benchmark Levels of Consumption: Closed-Form Results
Chapter 6: Long-Run Risks and Risk Compensation in Equity Markets
Discussion: Long-Run Risks and Risk Compensation in Equity Markets
Chapter 7: The Loss Aversion/Narrow Framing Approach to the Equity Premium Puzzle
Discussion: The Loss Aversion/Narrow Framing Approach to the Equity Premium Puzzle
Discussion: The Loss Aversion/Narrow Framing Approach to the Equity Premium Puzzle
Chapter 8: Financial Markets and the Real Economy
Discussion: Financial Markets and the Real Economy
Chapter 9: Understanding the Equity Risk Premium Puzzle
Discussion: Understanding the Equity Risk Premium Puzzle
Cash Flow Risk, Discounting Risk, and the Equity Premium Puzzle
Discussion: Cash Flow Risk, Discounting Risk, and the Equity Premium Puzzle
Discussion: Cash Flow Risk, Discounting Risk, and the Equity Premium Puzzle
Chapter 10: Distribution Risk and Equity Returns
Discussion: Distribution Risk and Equity Returns
Chapter 11: The Worldwide Equity Premium: A Smaller Puzzle
Chapter 12: History and the Equity Risk Premium
Discussion: “The Worldwide Equity Premium: A Smaller Puzzle” and “History and the Equity Risk Premium”
Chapter 13: Can Heterogeneity, Undiversified Risk, and Trading Frictions Solve the Equity Premium Puzzle?
Discussion: Can Heterogeneity, Undiversified Risk, and Trading Frictions Solve the Equity Premium Puzzle?
Chapter 14: Asset Prices and Intergenerational Risk Sharing: The Role of Idiosyncratic Earnings Shocks
Discussion: Asset Prices and Intergenerational Risk Sharing: The Role of Idiosyncratic Earnings Shocks
Index
RM
KA
GC
HM
RM
SM
PS
WS