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The Equity Premium Puzzle

The Equity Premium Puzzle

Rajnish Mehra

83,25 €
IVA incluido
Disponible
Editorial:
Now Publishers Inc
Año de edición:
2007
Materia
Finanzas
ISBN:
9781601980649
83,25 €
IVA incluido
Disponible

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Sobre IBD

The Equity Premium Puzzle reviews the literature on this phenomenon from the original papers by Mehra and Prescott to the present. The author shows that the equity premium -- the return earned by a broad market index in excess of that earned by a relatively risk-free security -- is not a premium for bearing non-diversifiable risk. The Equity Premium Puzzle · documents the historical equity premium in the United States and in selected countries with significant capital markets. · examines the question, 'Is the equity premium a premium for bearing non-diversifiable risk?' · addresses risk and preference based explanations of the equity premium · reviews the nascent literature that takes as given the findings in Mehra and Prescott (1985) and tries to account for the equity premium by factors other than aggregate risk. The Equity Premium Puzzle offers a birds-eye view of the literature explained by one of the authors of the pioneering work in this area. This is must reading for all students and scholars of finance and macroeconomics.

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