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The Equity Premium Puzzle: Australia and the United States in Comparative Perspective




Type Of Work


  • Scholarly edition

Abstract


  • The equity risk premium puzzle has received regular attention by economists since it

    was first invoked by Mehra and Prescott (1985) twenty years ago. In a recent paper,

    they revisit the question and reject many of the explanations offered but we are left

    with no clear alternative account. The current paper seeks to do two things. We

    provide matching historical evidence of the equity premium for Australia and

    compare the results for the two nations. Resulting from this, we argue that a closer

    understanding of phases of economic history helps to explain the puzzle.

Publication Date


  • 2006

Citation


  • Ville, S. (2006). The Equity Premium Puzzle: Australia and the United States in Comparative Perspective. Retrieved from http://business.uow.edu.au/econ/who/index.html

Web Of Science Accession Number


Type Of Work


  • Scholarly edition

Abstract


  • The equity risk premium puzzle has received regular attention by economists since it

    was first invoked by Mehra and Prescott (1985) twenty years ago. In a recent paper,

    they revisit the question and reject many of the explanations offered but we are left

    with no clear alternative account. The current paper seeks to do two things. We

    provide matching historical evidence of the equity premium for Australia and

    compare the results for the two nations. Resulting from this, we argue that a closer

    understanding of phases of economic history helps to explain the puzzle.

Publication Date


  • 2006

Citation


  • Ville, S. (2006). The Equity Premium Puzzle: Australia and the United States in Comparative Perspective. Retrieved from http://business.uow.edu.au/econ/who/index.html

Web Of Science Accession Number