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...
| Hlavní autor: | |
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| Médium: | Časopis |
| Jazyk: | English |
| Vydáno: |
Washington, D.C. :
International Monetary Fund,
1996.
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| Edice: | IMF Working Papers; Working Paper ;
No. 1996/118 |
| On-line přístup: | Full text available on IMF |