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The Effects of Inverted Yield Curves on Asset Returns

✍ Scribed by James Ross McCown


Book ID
109178138
Publisher
John Wiley and Sons
Year
1999
Tongue
English
Weight
817 KB
Volume
34
Category
Article
ISSN
0732-8516

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An exploration of the effects of pessimi
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The subjective distribution of growth rates of aggregate consumption is characterized by pessimism if it is ΓΏrst-order stochastically dominated by the objective distribution. Uniform pessimism is a leftward translation of the objective distribution of the logarithm of the growth rate. The subjective