"While the state-preference approach is perhaps more general than the mean variance approach and provides an elegant framework for investigating theo retical issues, it is unfortunately… Más…
"While the state-preference approach is perhaps more general than the mean variance approach and provides an elegant framework for investigating theo retical issues, it is unfortunately difficult to give it empirical content. " I The state of the art in asset pricing has substantially changed over the past years. While the seminal CAPM represents an equilibrium model derived under rather restrictive assumptions on preferences or return distributions and places a lot of emphasis on the efficiency of a somehow arbitrary market portfolio, subsequent models were much less restrictive with respect to the underlying economic struc ture. For example, the arbitrage pricing theory maintains the linear relationship between risk and return simply by assuming the absence of arbitrage profits. While empirically more tractable than the CAPM, the main drawback of arbitrage pricing models is that they do not provide much insight into the economic and dynamic nature of risk premia. The "conditional" CAPM provides an elegant econometric framework to characterize how changing economic conditions de termine the variability of multiple risk premia. However, this framework still re quires some rather ad-hoc assumptions about the economic nature of the pricing kernel. An ingenious next step in asset pricing modeling was therefore to revert the question to be addressed. Instead of placing strong restrictions on distribu tions and preferences, observed returns are used to derive restrictions which must be imposed on the stochastic properties of the pricing kernel. A simple Euler-type equation is typically used to characterize that approach., Deutscher Universitätsverlag<
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*Global Stock Markets* - Expected returns consumption and the business cycle. Auflage 2000 / Taschenbuch für 53.49 € / Aus dem Bereich: Bücher, Wissenschaft, Wirtschaftswissenschaft Medie… Más…
*Global Stock Markets* - Expected returns consumption and the business cycle. Auflage 2000 / Taschenbuch für 53.49 € / Aus dem Bereich: Bücher, Wissenschaft, Wirtschaftswissenschaft Medien > Bücher nein Buch (kartoniert) Hardcover;Sozialwissenschaften, Recht, Wirtschaft;Internationale Wirtschaft, Deutscher Universitätsverlag<
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Global Stock Markets ab 96.49 € als Taschenbuch: Expected returns consumption and the business cycle. Auflage 2000. Aus dem Bereich: Bücher, Taschenbücher, Wirtschaft & Soziales, Deutsche… Más…
Global Stock Markets ab 96.49 € als Taschenbuch: Expected returns consumption and the business cycle. Auflage 2000. Aus dem Bereich: Bücher, Taschenbücher, Wirtschaft & Soziales, Deutscher Universitätsverlag<
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(*) Libro agotado significa que este título no está disponible por el momento en alguna de las plataformas asociadas que buscamos.
"While the state-preference approach is perhaps more general than the mean variance approach and provides an elegant framework for investigating theo retical issues, it is unfortunately… Más…
"While the state-preference approach is perhaps more general than the mean variance approach and provides an elegant framework for investigating theo retical issues, it is unfortunately difficult to give it empirical content. " I The state of the art in asset pricing has substantially changed over the past years. While the seminal CAPM represents an equilibrium model derived under rather restrictive assumptions on preferences or return distributions and places a lot of emphasis on the efficiency of a somehow arbitrary market portfolio, subsequent models were much less restrictive with respect to the underlying economic struc ture. For example, the arbitrage pricing theory maintains the linear relationship between risk and return simply by assuming the absence of arbitrage profits. While empirically more tractable than the CAPM, the main drawback of arbitrage pricing models is that they do not provide much insight into the economic and dynamic nature of risk premia. The "conditional" CAPM provides an elegant econometric framework to characterize how changing economic conditions de termine the variability of multiple risk premia. However, this framework still re quires some rather ad-hoc assumptions about the economic nature of the pricing kernel. An ingenious next step in asset pricing modeling was therefore to revert the question to be addressed. Instead of placing strong restrictions on distribu tions and preferences, observed returns are used to derive restrictions which must be imposed on the stochastic properties of the pricing kernel. A simple Euler-type equation is typically used to characterize that approach., Deutscher Universitätsverlag<
Nr. 978-3-8244-7272-7. Gastos de envío:Worldwide free shipping, , DE. (EUR 0.00)
*Global Stock Markets* - Expected returns consumption and the business cycle. Auflage 2000 / Taschenbuch für 53.49 € / Aus dem Bereich: Bücher, Wissenschaft, Wirtschaftswissenschaft Medie… Más…
*Global Stock Markets* - Expected returns consumption and the business cycle. Auflage 2000 / Taschenbuch für 53.49 € / Aus dem Bereich: Bücher, Wissenschaft, Wirtschaftswissenschaft Medien > Bücher nein Buch (kartoniert) Hardcover;Sozialwissenschaften, Recht, Wirtschaft;Internationale Wirtschaft, Deutscher Universitätsverlag<
Gastos de envío:Shipping in 3 days, , Versandkostenfrei nach Hause oder Express-Lieferung in Ihre Buchhandlung., DE. (EUR 0.00)
Global Stock Markets ab 96.49 € als Taschenbuch: Expected returns consumption and the business cycle. Auflage 2000. Aus dem Bereich: Bücher, Taschenbücher, Wirtschaft & Soziales, Deutsche… Más…
Global Stock Markets ab 96.49 € als Taschenbuch: Expected returns consumption and the business cycle. Auflage 2000. Aus dem Bereich: Bücher, Taschenbücher, Wirtschaft & Soziales, Deutscher Universitätsverlag<
1Dado que algunas plataformas no nos comunican las condiciones de envío y éstas pueden depender del país de entrega, del precio de compra, del peso y tamaño del artículo, de una posible membresía a la plataforma, de una entrega directa por parte de la plataforma o a través de un tercero (Marketplace), etc., es posible que los gastos de envío indicados por eurolibro/terralibro no concuerden con los de la plataforma ofertante.
EAN (ISBN-13): 9783824472727 ISBN (ISBN-10): 3824472724 Tapa dura Tapa blanda Año de publicación: 2000 Editorial: Deutscher Universitätsverlag
Libro en la base de datos desde 2007-10-25T16:08:40-05:00 (Mexico City) Página de detalles modificada por última vez el 2024-04-10T11:50:01-06:00 (Mexico City) ISBN/EAN: 3824472724
ISBN - escritura alterna: 3-8244-7272-4, 978-3-8244-7272-7 Mode alterno de escritura y términos de búsqueda relacionados: Autor del libro: drobe, stock wolfgang Título del libro: business, stock return, stock wolfgang
Datos del la editorial
Autor: Wolfgang Drobetz Título: Global Stock Markets - Expected returns, consumption, and the business cycle Editorial: Deutscher Universitätsverlag; Deutscher Universitätsverlag 332 Páginas Año de publicación: 2000-10-30 Wiesbaden; DE Peso: 0,521 kg Idioma: Inglés 54,99 € (DE)
BC; Emerging Markets/Globalization; Hardcover, Softcover / Wirtschaft/Internationale Wirtschaft; Entwicklungsökonomie und Schwellenländer; Verstehen; International Financial Market; arbitrage; asset pricing; asset pricing model; business; business cycle; econometrics; efficiency; equilibrium; financial market; financial markets; modeling; portfolio; pricing; science and technology; Marketing; Emerging Markets and Globalization; Marketing; Marketing und Vertrieb; EA
Time varying expected returns and the business cycle on international financial markets - Testing a conditional version of the consumption-based asset pricing model - Volatility bounds for stochastic discount factors on global financial markets - Mean reversion and rational pricing on global stock markets
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