| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7251 |
| DP7251 Inequality, Integration, and Policy: Issues and evidence from EMU | |
| Giuseppe Bertola | |
| 发表日期 | 2009-04-05 |
| 出版年 | 2009 |
| 语种 | 英语 |
| 摘要 | This paper explores the effects of the US business cycle on US stock market returns through an analysis of the equity risk premium. We propose a new methodology based on the SDF approach to asset pricing that allows us to uncover the different effects of aggregate demand and supply shocks. We find that negative shocks are more important that positive shocks, and that supply shocks have a much greater impact than demand shocks. |
| 主题 | Financial Economics ; International Macroeconomics |
| 关键词 | Business cycles Demand and supply shocks Equity premium Stock returns |
| URL | https://cepr.org/publications/dp7251 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536088 |
| 推荐引用方式 GB/T 7714 | Giuseppe Bertola. DP7251 Inequality, Integration, and Policy: Issues and evidence from EMU. 2009. |
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