Rare Disasters and Asset Markets in the Twentieth Century*
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- 1 August 2006
- journal article
- Published by Oxford University Press (OUP) in The Quarterly Journal of Economics
- Vol. 121 (3) , 823-866
- https://doi.org/10.1162/qjec.121.3.823
Abstract
The potential for rare economic disasters explains a lot of asset-pricing puzzles. I calibrate disaster probabilities from the twentieth century globKeywords
All Related Versions
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