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Research Papers in Economics
Preprint . 1995
Full-Text: http://minneapolisfed.org/research/DP/DP102.pdf
Data sources: Research Papers in Economics
Research Papers in Economics
Article . 1996
Full-Text: http://www.e-jel.org/archive/mar1996/Kocherla.pdf
Data sources: Research Papers in Economics
https://doi.org/10.21034/dp.10...
Article . 1995 . Peer-reviewed
Data sources: Crossref
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The Equity Premium: It's Still a Puzzle

descriptionPublicationkeyboard_double_arrow_right Article , Preprint 01 Aug 1995Publisher:Federal Reserve Bank of Minneapolis
Authors: Narayana R. Kocherlakota;

doi: 10.21034/dp.102

The Equity Premium: It's Still a Puzzle

Abstract

The paper examines the literature that attempts to resolve the equity premium and riskfree rate puzzles. It demonstrates that the puzzles will confront any model of asset prices that relies on three crucial assumptions: preferences have a particular parametric form, asset markets are complete, and asset trade is frictionless. A survey of the literature that relaxes these assumptions reveals that there are now several plausible explanations of the seemingly low riskfree rate, but the large size of the equity premium remains a puzzle.

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    selected citations
    These citations are derived from selected sources.
    This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    		 11
    popularity
    This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
    		 Average
    influence
    This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
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    impulse
    This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
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Powered by OpenAIRE graph
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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
11
Average
Top 10%
Average