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~isPartOf:"Fisher College of Business working paper series"
~language:"eng"
~person:"Bai, Hang"
~subject:"Capital income"
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Searching for the equity premium
Bai, Hang
;
Zhang, Lu
-
2020
plausible
business
cycle dynamics. The equity premium and stock market volatility are strongly countercyclical, while the … consumption smoothing via capital investment. The welfare cost of
business
cycles is huge, 29% …
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