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dc.contributor.authorAkdeniz, L.en_US
dc.contributor.authorDechert, W. D.en_US
dc.date.accessioned2015-07-28T12:00:40Z
dc.date.available2015-07-28T12:00:40Z
dc.date.issued2012-02-27en_US
dc.identifier.issn1365-1005
dc.identifier.urihttp://hdl.handle.net/11693/12231
dc.description.abstractIn this paper we use a simple model with a single Cobb–Douglas firm and a consumer with a CRRA utility function to show the difference between the equity premia in the production-based Brock model and the consumption-based Lucas model. With this simple example we show that the equity premium in the production-based model exceeds that of the consumption-based model with probability 1.en_US
dc.language.isoEnglishen_US
dc.source.titleMacroeconomic Dynamicsen_US
dc.relation.isversionofhttp://dx.doi.org/10.1017/S1365100511000708en_US
dc.subjectComputational economicsen_US
dc.subjectProjection methodsen_US
dc.subjectAsset pricing models, stochastic growth models.en_US
dc.titleThe equity premium in consumption and production models?en_US
dc.typeArticleen_US
dc.departmentDepartment of Managementen_US
dc.citation.spage139en_US
dc.citation.epage148en_US
dc.citation.volumeNumber16en_US
dc.citation.issueNumber1en_US
dc.identifier.doi10.1017/S1365100511000708en_US
dc.publisherCambridge University Pressen_US


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