|
|||||
|
|
Equity premium in a production economy: A parametric example |
|
| Authors: | Parantap Basu Siddhartha Chib |
| Affiliation: | University of California, Santa Barbara, CA 93106, USA |
| Abstract: | A simple Arrow-Debreu model with production and adjustment cost is developed and it is shown how the production parameters interact in determining the steady state equity premium. We also show that the equity premium is highest in exchange economy. |
| Keywords: | |
| 本文献已被 ScienceDirect 等数据库收录！ | |