The American Economic Review, Volume 70,Edições 3-5American Economic Association., 1980 Includes annual List of doctoral dissertations in political economy in progress in American universities and colleges; and the Hand book of the American Economic Association. |
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Página 639
... hold capital unless its yield is above some minimum level . In the traditional two - asset Keynesian model , this is represented as a liquidity trap , that is , as an infinitely elastic demand for money at some low rate of interest . A ...
... hold capital unless its yield is above some minimum level . In the traditional two - asset Keynesian model , this is represented as a liquidity trap , that is , as an infinitely elastic demand for money at some low rate of interest . A ...
Página 664
... hold also for the prices of securities.14 B. Testable Implications In view of our preceding discussion , we can state in general that the CAPM , under stationary return distributions , implies a linear homogeneous structure of ...
... hold also for the prices of securities.14 B. Testable Implications In view of our preceding discussion , we can state in general that the CAPM , under stationary return distributions , implies a linear homogeneous structure of ...
Página 879
... hold . Casual observation of ( 10 ) suggests that if investors with large risk tolerance have little precision in their assessments , and vice versa , then the variance in the consensus belief will be large , because in effect poor ...
... hold . Casual observation of ( 10 ) suggests that if investors with large risk tolerance have little precision in their assessments , and vice versa , then the variance in the consensus belief will be large , because in effect poor ...
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adjustment analysis assets assumed assumption average behavior capital coefficient consider constant consumer consumption cost countries curve defined demand depends derived determined developed discussion distribution earnings Econ Economic effect efficient equal equation equilibrium estimates example exchange exist expected Figure firm follows foreign function given growth hold implies important income increase individual industry inflation initial interest International investment labor less marginal maximize mean measure ment monetary Note observed obtained optimal output percent period positive possible preferences present problem production profits quantity ratio reduced regulation relative respect risk saving share social substitution supply Table Theory tion trade unemployment United University utility utility function variables wage welfare workers yields zero