Risk premiums in asset prices and returns
- 1 January 1989
- journal article
- research article
- Published by Taylor & Francis in Econometric Reviews
- Vol. 8 (2) , 187-195
- https://doi.org/10.1080/07474938908800166
Abstract
We review recent research on time-varying risk premiums, including attempts to explain rejections by baillie and others of the unbiasedness hypothesis. Using spot and forward foreign exchange rates we discuss the evidence for time-varying risk premiums, relate it to general equilibrium theories of asset pricing, and describe the artificial economy methodology.Keywords
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