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Equity premium in a production economy:A parametric example

Authors
Journal
Economics Letters
0165-1765
Publisher
Elsevier
Publication Date
Volume
18
Issue
1
Identifiers
DOI: 10.1016/0165-1765(85)90078-3

Abstract

Abstract A simple Arrow-Debreu model with production and adjustment cost is developed and it is shown how the production parameters interact in determining the steady state equity premium. We also show that the equity premium is highest in exchange economy.

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