; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "The Equity Premium: It's Still a Puzzle"; ; "batchuser@example.com"; "Kocherlakota, Narayana Rao, 1963-"; "Federal Reserve Bank of Minneapolis"; "G12 - Asset Pricing; Trading Volume; Bond Interest Rates"; "The paper examines the literature that attempts to resolve the equity premium and riskfree rate puzzles. It demonstrates that the puzzles will confront any model of asset prices that relies on three crucial assumptions: preferences have a particular parametric form, asset markets are complete, and asset trade is frictionless. A survey of the literature that relaxes these assumptions reveals that there are now several plausible explanations of the seemingly low riskfree rate, but the large size of the equity premium remains a puzzle."^^; "1995-08-01"; "2019-05-21T16:38:17.3373379+00:00"^^; "https://doi.org/10.21034/dp.102"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "Wed Apr 22 16:45:56 2020"; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "410"; "Discussion paper (Federal Reserve Bank of Minneapolis. Institute for Empirical Macroeconomics)"; "102"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Institute for Empirical Macroeconomics"; "Published in: _Journal of Economic Literature_ (Vol. 34, No. 1, March 1996, pp. 42-71)."^^; ; "Publication" . ; .