Financial markets and the real economy
By: John H. Cochrane.
Contributors: National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 11193; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 11193.
Publisher: National Bureau of Economic Research
Published: 2005
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Finance -- Mathematical models; Investments -- Mathematical models.; Rate of return -- Mathematical models.; Macroeconomics -- Mathematical models
Description: "I survey work on the intersection between macroeconomics and finance.  The challenge is to find the right measure of marginal utility of wealth, or "bad times" so that we can understand average return premia distilled in finance "factors" as compensation for assets' tendency to pay off badly in "bad times." I survey the equity premium, consumption-based models, general equilibrium models, and labor income/idiosyncratic risk approaches to this question"--National Bureau of Economic Research web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 3/15/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.