Long-run risks and financial markets
By: Ravi Bansal
Contributors: National Bureau of Economic Research
Series: NBER working paper series -- working paper 13196; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 13196.
Publisher: National Bureau of Economic Research
Published: 2007
Place of publication: Cambridge, MA
Language: eng
Format: [electronic resource] /
Description: "The recently developed long-run risks asset pricing model shows that concerns about long-run expected growth and time-varying uncertainty (i.e., volatility) about future economic prospects drive asset prices.  These two channels of economic risks can account for the risk premia and asset price fluctuations.  In addition, the model can empirically account for the cross-sectional differences in asset returns.  Hence, the long-run risks model provides a coherent and systematic framework for analyzing financial markets"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 7/31/2007.

Includes bibliographical references.

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Mode of access: World Wide Web.