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Long Run Risks and Financial Markets

By Ravi Bansal

Abstract

Recent work shows that concerns about (i) long run expected growth and (ii) uncertainty about future economic prospects, drive asset prices. These two channels of economic risks can account for the risk premia and asset price fluctuations. Hence, the long run risks model potentially provides a coherent and systematic framework fo

Year: 2006
OAI identifier: oai:CiteSeerX.psu:10.1.1.173.7572
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