Essays in Financial Economics

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Date

2012

Journal Title

Journal ISSN

Volume Title

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Abstract

In my dissertation, I study the link between economic growth and asset prices in stochastic endogenous growth models. In these settings, long-term growth prospects are endogenously determined by innovation and R\&D. In equilibrium, R\&D endogenously drives a small, persistent component in productivity which generates long-run uncertainty about economic growth. With recursive preferences, this growth propagation mechanism helps reconcile a broad spectrum of equity and bond market facts jointly with macroeconomic fluctuations.

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Provenance

Subjects

Finance, Economics, Asset pricing, Endogenous Growth, Recursive Preferences

Citation

Citation

Kung, Howard Pan (2012). Essays in Financial Economics. Dissertation, Duke University. Retrieved from https://hdl.handle.net/10161/5503.

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