Constantinides, G., J. Donaldson and R. Mehra (2001), \Junior Can't Borrow: A New Perspective on the Equity Premium Puzzle," forthcoming in Quarterly Journal of Economics. Home/Search Document Not in Database Summary Related Articles Check |
This paper is cited in the following contexts:
Borrowing Constraints, Portfolio Choice, and Precautionary.. - Haliassos, Hassapis (1998) (1 citation) (Correct)
.... mixed results regarding the existence and quantitative importance of precautionary influences on saving and portfolio choice (see Guiso, Jappelli, and Terlizzesse, 1992, 1996; Hochguertel, 1998) Papers studying effects of borrowing constraints on portfolio choice under labor income risk include Constantinides et al. 1998), Gakidis (1998) Hochguertel (1998) Koo (1991) Marcet and Singleton (1991) and Paxson (1990) Constantinides et al. argue that borrowing constraints can contribute to explaining both the high equity premium and the low riskless rate, since they prevent the young from borrowing to invest in ....
Constantinides, G.M., J.B. Donaldson, and R. Mehra, 1998, Junior cant borrow: A new perspective on the equity premium puzzle, mimeo.
Intertemporal Substitution, Risk Aversion, And Economic.. - Giuliano, Turnovsky (2000) (Correct)
.... Epstein and Zin find values of R clustering around unity, consistent with the logarithmic utility function, while at the other extreme, issues pertaining to the equity premium puzzle induce authors to take R as high as 18 (Obstfeld, 1994a) or even 30 (Kandel and Stambaugh 1991) However, Constantinides, Donaldson, and Mehra, 1998) present alternative empirical evidence to suggest that R lies most plausibly in the range 2 5, a range that appears to be gaining increasing acceptance. Within this range of estimates one certainly cannot rule out the constraint R = 1 being approximately satisfied. For example, R = 2.5, 0.4 ....
Constantinides, G.M., J.B. Donaldson, and R. Mehra, "Junior Can't Borrow: A New Perspective on the Equity Premium Puzzle," ms 1998.
Consumption-Based Asset Pricing with Incomplete Markets - Krebs (2000) Self-citation (Donaldson) (Correct)
.... In addition to market incompleteness, the asset pricing literature has studied more general preference specifications (for example, Campbell and Cochrane, 1999, and Constantinides, 1990) market imperfections beyond market incompleteness (Aiyagari and Gertler, 1991, Alvarez and Jermann, 1999, Constantinides et al. 1997, Heaton and Lucas, 1996, Luttmer, 1996,1999) and the effect of macroeconomic disasters (Danthine and Donaldson, 1998, and Rietz, 1988) Campbell (1999) Cochrane and Hansen (1992) and Kocherlakota (1996) provide excellent surveys. Finally, Hansen et al. 1997) and Kurz and Motolese (1999) ....
Constantinides, G., Donaldson, J. and R. Mehra (1997) "Junior Can't Borrow: A New Perspective on the Equity Premium Puzzle", Mimeo.
Intergenerational Risk Sharing via Social Security when.. - Krueger, Kubler (2001) (Correct)
No context found.
Constantinides, G., J. Donaldson and R. Mehra (2001), \Junior Can't Borrow: A New Perspective on the Equity Premium Puzzle," forthcoming in Quarterly Journal of Economics.
Idiosyncratic Consumption Risk and the Cross-Section of Asset.. - Jacobs, Wang (2001) (Correct)
No context found.
Constantinides, George M., Donaldson, John B. and Rajnish Mehra, 1998, Junior cant borrow: a new perspective on the equity premium puzzle, mimeo, University of Chicago, January.
Index Funds and Stock Market Growth - Goetzmann, Massa (1999) (1 citation) (Correct)
No context found.
Constantinides, G., J. Donaldson and R. Mahra, 1998, "Junior Can't Borrow: A New Perspective on the Equity Premium Puzzle," NBER Working Paper #6617
Portfolio Choice and Liquidity Constraints - Haliassos, Michaelides (2000) (3 citations) (Correct)
No context found.
Constantinides, George, John Donaldson and Rajnish Mehra. 1998. "Junior Can't Borrow: A New Perspective on the Equity Premium Puzzle." Working paper, University of Chicago.
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