Essays in Financial Economics
dc.contributor.advisor | Bansal, Ravi | |
dc.contributor.author | Kung, Howard Pan | |
dc.date.accessioned | 2012-05-25T20:15:42Z | |
dc.date.available | 2012-05-25T20:15:42Z | |
dc.date.issued | 2012 | |
dc.identifier.uri | https://hdl.handle.net/10161/5503 | |
dc.description.abstract | <p>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.</p> | |
dc.subject | Finance | |
dc.subject | Economics | |
dc.subject | Asset Pricing | |
dc.subject | Endogenous Growth | |
dc.subject | Recursive Preferences | |
dc.title | Essays in Financial Economics | |
dc.type | Dissertation | |
dc.department | Business Administration |
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