Risk preferences in multi-period consumption models, the equity premium puzzle, and habit formation utility

Article Abstract:

A study of multi-period consumption model is presented. The study also assesses the risk aversion properties of the utility function for consumption and the value function of wealth. In this context, habit formation , and equity premium puzzle, are also discussed.

Stocks, Risk (Economics), Stock prices

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Consumption and risk sharing over the life cycle

Article Abstract:

Earnings inequality is exogenous and is calibrated to match data from the U.S panel study on Income Dynamics. A general equilibrium overlapping generations model is used in which households face earnings shocks over the course of their lifetime.

Models, Equilibrium (Economics)

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Consumption, the persistence of shocks, and asset price volatility

Article Abstract:

The role of permanent and transitory components of consumption in explaining equity premium and unpredictability of asset returns is analyzed.

Forecasts, trends, outlooks, Commodity & service prices, Prices and rates, Forecasts and trends, Market trend/market analysis, Company pricing policy, Equity (Finance), Return on assets

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