Term and equity premium in economies with habit formation
In this paper we investigate the size of the risk premium and the term premium in a representative agent exchange model economy where households preferences are subject to habit formation. As a novel feature, we develop theoretical measures for risk premium and term premium that can be used even whe...
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| Format: | workingPaper |
| Language: | eng |
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2015
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| Online Access: | http://hdl.handle.net/10400.3/3315 |
| Country: | Portugal |
| Oai: | oai:repositorio.uac.pt:10400.3/3315 |