Private Risk Premium And Aggregate Uncertainty In The Model Of Uninsurable Investment Risk PDF Download
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Author | : Francisco Covas |
Publisher | : |
Total Pages | : 37 |
Release | : 2007 |
Genre | : Investments |
ISBN | : |
Download Private Risk Premium and Aggregate Uncertainty in the Model of Uninsurable Investment Risk Book in PDF, ePub and Kindle
Author | : Shigeru Fujita |
Publisher | : |
Total Pages | : 38 |
Release | : 2019 |
Genre | : |
ISBN | : |
Download Private Risk Premium and Aggregate Uncertainty in the Model of Uninsurable Investment Risk Book in PDF, ePub and Kindle
This paper studies cyclical properties of the private risk premium in a model where a continuum of heterogeneous entrepreneurs are subject to aggregate as well as idiosyncratic risks, both of which are assumed to be highly persistent. The calibrated model matches highly skewed wealth and income distributions of entrepreneurs found in the Survey of Consumer Finances. The authors provide an accurate numerical solution to the model even though the model is shown to exhibit serious nonlinearities that are absent in incomplete market models with idiosyncratic labor income risk. The model is able to generate the aggregate private risk premium of 2-3 percent and the low risk-free rate. However, it generates very little variation in these variables over the business cycle, suggesting that the model lacks the ability to amplify aggregate shocks.
Author | : Francisco Covas |
Publisher | : |
Total Pages | : |
Release | : 2011 |
Genre | : |
ISBN | : |
Download Private Equity Premium and Aggregate Uncertainty in a Model of Uninsurable Investment Risk Book in PDF, ePub and Kindle
Author | : Frank H. Knight |
Publisher | : Cosimo, Inc. |
Total Pages | : 401 |
Release | : 2006-11-01 |
Genre | : Business & Economics |
ISBN | : 1602060053 |
Download Risk, Uncertainty and Profit Book in PDF, ePub and Kindle
A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.
Author | : United States. Congress. House. Committee on Financial Services. Subcommittee on Domestic Monetary Policy and Technology |
Publisher | : |
Total Pages | : 256 |
Release | : 2009 |
Genre | : Business & Economics |
ISBN | : |
Download Regulatory Restructuring Book in PDF, ePub and Kindle
Author | : George-Marios Angeletos |
Publisher | : DIANE Publishing |
Total Pages | : 42 |
Release | : 2011-04 |
Genre | : Reference |
ISBN | : 1437980244 |
Download Financial Integration, Entrepreneurial Risk and Global Dynamics Book in PDF, ePub and Kindle
How does financial integration impact capital accumulation, current-account dynamics, and cross-country inequality? This paper investigates this question within a two-country, general-equilibrium, incomplete-markets model that focuses on the importance of idiosyncratic entrepreneurial risk -- a risk that introduces, not only a precautionary motive for saving, but also a wedge between the interest rate and the marginal product of capital. This friction provides a simple resolution to the empirical puzzle that capital often fails to flow from the rich or slow-growing countries to the poor or fast-growing ones, and a distinct set of policy lessons regarding the intertemporal costs and benefits of capital-account liberalization. Illus. A print on demand report.
Author | : Luigi Guiso |
Publisher | : MIT Press |
Total Pages | : 552 |
Release | : 2002 |
Genre | : Business & Economics |
ISBN | : 9780262072212 |
Download Household Portfolios Book in PDF, ePub and Kindle
Theoretical and empirical analysis of the structure of household portfolios.
Author | : |
Publisher | : |
Total Pages | : 348 |
Release | : 2007 |
Genre | : Middle Atlantic States |
ISBN | : |
Download Business and Financial Conditions in the Third Federal Reserve District Book in PDF, ePub and Kindle
Author | : William N. Goetzmann |
Publisher | : Oxford University Press |
Total Pages | : 568 |
Release | : 2006-11-16 |
Genre | : Business & Economics |
ISBN | : 0199881979 |
Download The Equity Risk Premium Book in PDF, ePub and Kindle
What is the return to investing in the stock market? Can we predict future stock market returns? How have equities performed over the last two centuries? The authors in this volume are among the leading researchers in the study of these questions. This book draws upon their research on the stock market over the past two dozen years. It contains their major research articles on the equity risk premium and new contributions on measuring, forecasting, and timing stock market returns, together with new interpretive essays that explore critical issues and new research on the topic of stock market investing. This book is aimed at all readers interested in understanding the empirical basis for the equity risk premium. Through the analysis and interpretation of two scholars whose research contributions have been key factors in the modern debate over stock market perfomance, this volume engages the reader in many of the key issues of importance to investors. How large is the premium? Is history a reliable guide to predict future equity returns? Does the equity and cash flows of the market? Are global equity markets different from those in the United States? Do emerging markets offer higher or lower equity risk premia? The authors use the historical performance of the world's stock markets to address these issues.
Author | : Federal Reserve Bank of Philadelphia |
Publisher | : |
Total Pages | : 344 |
Release | : 2007 |
Genre | : Middle Atlantic States |
ISBN | : |
Download The Business Review Book in PDF, ePub and Kindle