메뉴 건너뛰기




Volumn 113, Issue 1, 2005, Pages 185-222

Consumption risk and the cross section of expected returns

Author keywords

[No Author keywords available]

Indexed keywords

CONSUMPTION BEHAVIOR; RISK FACTOR;

EID: 15844380214     PISSN: 00223808     EISSN: None     Source Type: Journal    
DOI: 10.1086/426042     Document Type: Article
Times cited : (319)

References (57)
  • 1
    • 0003007882 scopus 로고
    • "Asset Prices under Habit Formation and Catching Up with the Joneses"
    • (May)
    • Abel, Andrew B. 1990. "Asset Prices under Habit Formation and Catching Up with the Joneses." A.E.R. Papers and Proc. 80 (May): 38-42.
    • (1990) A.E.R. Papers and Proc. , vol.80 , pp. 38-42
    • Abel, A.B.1
  • 2
    • 0003510869 scopus 로고    scopus 로고
    • "Small Sample Properties of the Model Specification Test Based on the Hansen-Jagannathan Distance"
    • Manuscript, Dept. Econ., Arizona State Univ
    • Ahn, Seung C., and Christopher Gadarowski. 1999. "Small Sample Properties of the Model Specification Test Based on the Hansen-Jagannathan Distance." Manuscript, Dept. Econ., Arizona State Univ.
    • (1999)
    • Ahn, S.C.1    Gadarowski, C.2
  • 3
    • 4344570778 scopus 로고    scopus 로고
    • "Luxury Goods and the Equity Premium"
    • (December)
    • Ait-Sahalia, Yacine, Jonathan A. Parker, and Motohiro Yogo. 2004. "Luxury Goods and the Equity Premium." J. Finance 59 (December): 2959-3004.
    • (2004) J. Finance , vol.59 , pp. 2959-3004
    • Ait-Sahalia, Y.1    Parker, J.A.2    Yogo, M.3
  • 4
    • 0036184128 scopus 로고    scopus 로고
    • "Money, Interest Rates, and Exchange Rates with Endogenously Segmented Markets"
    • (February)
    • Alvarez, Fernando, Andrew Atkeson, and Patrick J. Kehoe. 2002. "Money, Interest Rates, and Exchange Rates with Endogenously Segmented Markets." J.P.E. 110 (February): 73-112.
    • (2002) J.P.E. , vol.110 , pp. 73-112
    • Alvarez, F.1    Atkeson, A.2    Kehoe, P.J.3
  • 5
    • 23944484942 scopus 로고    scopus 로고
    • "Consumption, Dividends, and the Cross-Section of Equity Returns"
    • Forthcoming
    • Bansal, Ravi, Robert E. Dittmar, and Christian T. Lundblad. Forthcoming. "Consumption, Dividends, and the Cross-Section of Equity Returns." J. Finance.
    • J. Finance
    • Bansal, R.1    Dittmar, R.F.2    Lundblad, C.T.3
  • 6
    • 4344674622 scopus 로고    scopus 로고
    • "Risks for the Long Run: A Potential Resolution of Asset Pricing Puzzles"
    • (August)
    • Bansal, Ravi, and Amir Yaron. 2004. "Risks for the Long Run: A Potential Resolution of Asset Pricing Puzzles." J. Finance 59 (August): 1481-1509.
    • (2004) J. Finance , vol.59 , pp. 1481-1509
    • Bansal, R.1    Yaron, A.2
  • 7
    • 0040720682 scopus 로고
    • "The Consumption Beta Explains Expected Returns at Long Horizons"
    • Manuscript, Dept. Econ., Yale Univ
    • Brainard, William C., William R. Nelson, and Matthew D. Shapiro. 1991. "The Consumption Beta Explains Expected Returns at Long Horizons." Manuscript, Dept. Econ., Yale Univ.
    • (1991)
    • Brainard, W.C.1    Nelson, W.R.2    Shapiro, M.D.3
  • 8
    • 0009713512 scopus 로고
    • "An Intertemporal Asset Pricing Model with Stochastic Consumption and Investment Opportunities"
    • (September)
    • Breeden, Douglas T. 1979. "An Intertemporal Asset Pricing Model with Stochastic Consumption and Investment Opportunities." J. Financial Econ. 7 (September): 265-96.
    • (1979) J. Financial Econ. , vol.7 , pp. 265-296
    • Breeden, D.T.1
  • 9
    • 84977729854 scopus 로고
    • "Empirical Tests of the Consumption-Oriented CAPM"
    • (June)
    • Breeden, Douglas T., Michael R. Gibbons, and Robert H. Litzenberger. 1989. "Empirical Tests of the Consumption-Oriented CAPM." J. Finance 44 (June): 231-62.
    • (1989) J. Finance , vol.44 , pp. 231-262
    • Breeden, D.T.1    Gibbons, M.R.2    Litzenberger, R.H.3
  • 10
    • 21844497468 scopus 로고
    • "Near-Rationality, Heterogeneity, and Aggregate Consumption"
    • (February)
    • Caballero, Ricardo J. 1995. "Near-Rationality, Heterogeneity, and Aggregate Consumption." J. Money, Credit and Banking 27 (February): 29-48.
    • (1995) J. Money, Credit and Banking , vol.27 , pp. 29-48
    • Caballero, R.J.1
  • 11
    • 0000735805 scopus 로고    scopus 로고
    • "Understanding Risk and Return"
    • (April)
    • Campbell, John Y. 1996. "Understanding Risk and Return." J.P.E. 104 (April): 298-345.
    • (1996) J.P.E. , vol.104 , pp. 298-345
    • Campbell, J.Y.1
  • 12
    • 77956771554 scopus 로고    scopus 로고
    • "Asset Prices, Consumption, and the Business Cycle"
    • edited by John B. Taylor and Michael Woodford. Amsterdam: Elsevier Sci
    • Campbell, John Y. 1999. "Asset Prices, Consumption, and the Business Cycle." In Handbook of Macroeconomics, vol. 1C, edited by John B. Taylor and Michael Woodford. Amsterdam: Elsevier Sci.
    • (1999) Handbook of Macroeconomics , vol.1 C
    • Campbell, J.Y.1
  • 13
    • 0030452013 scopus 로고    scopus 로고
    • "A Cross-Sectional Test of an Investment-Based Asset Pricing Model"
    • (June)
    • Cochrane, John H. 1996. "A Cross-Sectional Test of an Investment-Based Asset Pricing Model." J.P.E. 104 (June): 572-621.
    • (1996) J.P.E. , vol.104 , pp. 572-621
    • Cochrane, J.H.1
  • 14
    • 0004291281 scopus 로고    scopus 로고
    • Princeton, NJ: Princeton Univ. Press
    • Cochrane, John H. 2001. Asset Pricing. Princeton, NJ: Princeton Univ. Press.
    • (2001) Asset Pricing
    • Cochrane, J.H.1
  • 15
    • 0031372198 scopus 로고    scopus 로고
    • "Equity-Premium and Risk-Free-Rate Puzzles at Long Horizons"
    • Daniel, Kent D., and David Marshall. 1997. "Equity-Premium and Risk-Free-Rate Puzzles at Long Horizons." Macroeconomic Dynamics 1 (2): 452-84.
    • (1997) Macroeconomic Dynamics , vol.1 , Issue.2 , pp. 452-484
    • Daniel, K.D.1    Marshall, D.2
  • 16
    • 0002078678 scopus 로고    scopus 로고
    • "The Market for Borrowing Stock"
    • (November-December)
    • D'Avolio, Gene. 2002. "The Market for Borrowing Stock." J. Financial Econ. 66 (November-December): 271-306.
    • (2002) J. Financial Econ. , vol.66 , pp. 271-306
    • D'Avolio, G.1
  • 17
    • 0004003441 scopus 로고    scopus 로고
    • "Does Stock Market Wealth Matter for Consumption?"
    • Finance and Economics Discussion Series, no. 2001-23, Fed. Reserve Bd., Washington, DC
    • Dynan, Karen E., and Dean M. Maki. 2001. "Does Stock Market Wealth Matter for Consumption?" Finance and Economics Discussion Series, no. 2001-23, Fed. Reserve Bd., Washington, DC.
    • (2001)
    • Dynan, K.E.1    Maki, D.M.2
  • 18
    • 84959823198 scopus 로고
    • "A Times Series Analysis of Representative Agent Models of Consumption and Leisure Choice under Uncertainty"
    • (February)
    • Eichenbaum, Martin S., Lars Peter Hansen, and Kenneth J. Singleton. 1988. "A Times Series Analysis of Representative Agent Models of Consumption and Leisure Choice under Uncertainty." Q.J.E. 103 (February): 51-78.
    • (1988) Q.J.E. , vol.103 , pp. 51-78
    • Eichenbaum, M.S.1    Hansen, L.P.2    Singleton, K.J.3
  • 19
    • 33749009107 scopus 로고
    • "Stock Returns, Real Activity, Inflation, and Money"
    • (September)
    • Fama, Eugene F. 1981. "Stock Returns, Real Activity, Inflation, and Money." A.E.R. 71 (September): 545-65.
    • (1981) A.E.R. , vol.71 , pp. 545-565
    • Fama, E.F.1
  • 20
    • 84977737676 scopus 로고
    • "The Cross-Section of Expected Stock Returns"
    • (June)
    • Fama, Eugene F., and Kenneth R. French. 1992. "The Cross-Section of Expected Stock Returns." J. Finance 47 (June): 427-65.
    • (1992) J. Finance , vol.47 , pp. 427-465
    • Fama, E.F.1    French, K.R.2
  • 21
    • 38549147867 scopus 로고
    • "Common Risk Factors in the Returns on Stocks and Bonds"
    • (February)
    • Fama, Eugene F., and Kenneth R. French. 1993. "Common Risk Factors in the Returns on Stocks and Bonds." J. Financial Econ. 33 (February): 3-56.
    • (1993) J. Financial Econ. , vol.33 , pp. 3-56
    • Fama, E.F.1    French, K.R.2
  • 22
    • 0000928969 scopus 로고
    • "Risk, Return, and Equilibrium: Empirical Tests"
    • (May/June)
    • Fama, Eugene F., and James D. MacBeth. 1973. "Risk, Return, and Equilibrium: Empirical Tests," J.P.E. 81 (May/June): 607-36.
    • (1973) J.P.E. , vol.81 , pp. 607-636
    • Fama, E.F.1    MacBeth, J.D.2
  • 23
    • 43949159894 scopus 로고
    • "Finite Sample Properties of the Generalized Method of Moments in Tests of Conditional Asset Pricing Models"
    • (August)
    • Ferson, Wayne E., and Stephen R. Foerster. 1994. "Finite Sample Properties of the Generalized Method of Moments in Tests of Conditional Asset Pricing Models." J. Financial Econ. 36 (August): 29-55.
    • (1994) J. Financial Econ. , vol.36 , pp. 29-55
    • Ferson, W.E.1    Foerster, S.R.2
  • 24
    • 15844409511 scopus 로고    scopus 로고
    • "Owner-Occupied Housing and the Presence of Adjustment Costs: Implications for Asset Pricing and Nondurable Consumption"
    • Manuscript, Dept. Econ., Univ. California, San Diego
    • Flavin, Marjorie. 2001. "Owner-Occupied Housing and the Presence of Adjustment Costs: Implications for Asset Pricing and Nondurable Consumption." Manuscript, Dept. Econ., Univ. California, San Diego.
    • (2001)
    • Flavin, M.1
  • 25
    • 0346279155 scopus 로고    scopus 로고
    • "The 6D Bias and the Equity-Premium Puzzle"
    • edited by Ben S. Bernanke and Ken Rogoff. Cambridge, MA: MIT Press
    • Gabaix, Xavier, and David Laibson. 2002. "The 6D Bias and the Equity-Premium Puzzle." In NBER Macroeconomics Annual 2001, vol. 16, edited by Ben S. Bernanke and Ken Rogoff. Cambridge, MA: MIT Press.
    • (2002) NBER Macroeconomics Annual 2001 , vol.16
    • Gabaix, X.1    Laibson, D.2
  • 26
    • 84914513057 scopus 로고
    • "The Determinants of the Variability of Stock Market Prices"
    • (May)
    • Grossman, Sanford J., and Robert J. Shiller. 1981. "The Determinants of the Variability of Stock Market Prices." A.E.R. Papers and Proc. 71 (May): 222-27.
    • (1981) A.E.R. Papers and Proc. , vol.71 , pp. 222-227
    • Grossman, S.J.1    Shiller, R.J.2
  • 27
    • 0000155749 scopus 로고
    • "Stochastic Implications of the Life Cycle-Permanent Income Hypothesis: Theory and Evidence"
    • (December)
    • Hall, Robert E. 1978. "Stochastic Implications of the Life Cycle-Permanent Income Hypothesis: Theory and Evidence." J.P.E. 86 (December): 971-87.
    • (1978) J.P.E. , vol.86 , pp. 971-987
    • Hall, R.E.1
  • 28
    • 0000414660 scopus 로고
    • "Large Sample Properties of Generalized Method of Moments Estimators"
    • (July)
    • Hansen, Lars Peter. 1982. "Large Sample Properties of Generalized Method of Moments Estimators." Econometrica 50 (July): 1029-54.
    • (1982) Econometrica , vol.50 , pp. 1029-1054
    • Hansen, L.P.1
  • 29
    • 0030545862 scopus 로고    scopus 로고
    • "Finite-Sample Properties of Some Alternative GMM Estimators"
    • (July)
    • Hansen, Lars Peter, John Heaton, and Amir Yaron. 1996. "Finite-Sample Properties of Some Alternative GMM Estimators." J. Bus. and Econ. Statis. 14 (July): 262-80.
    • (1996) J. Bus. and Econ. Statis. , vol.14 , pp. 262-280
    • Hansen, L.P.1    Heaton, J.2    Yaron, A.3
  • 30
    • 0010274340 scopus 로고    scopus 로고
    • "Assessing Specification Errors in Stochastic Discount Factor Models"
    • (June)
    • Hansen, Lars Peter, and Ravi Jagannathan. 1997. "Assessing Specification Errors in Stochastic Discount Factor Models." J. Finance 52 (June): 557-90.
    • (1997) J. Finance , vol.52 , pp. 557-590
    • Hansen, L.P.1    Jagannathan, R.2
  • 31
    • 85017108575 scopus 로고
    • "Generalized Instrumental Variables Estimation of Nonlinear Rational Expectations Models"
    • (September)
    • Hansen, Lars Peter, and Kenneth J. Singleton. 1982. "Generalized Instrumental Variables Estimation of Nonlinear Rational Expectations Models." Econometrica 50 (September): 1269-86.
    • (1982) Econometrica , vol.50 , pp. 1269-1286
    • Hansen, L.P.1    Singleton, K.J.2
  • 32
    • 84890663370 scopus 로고    scopus 로고
    • Princeton, NJ: Princeton Univ. Press
    • Hayashi, Fumio. 2000. Econometfics. Princeton, NJ: Princeton Univ. Press.
    • (2000) Econometrics
    • Hayashi, F.1
  • 33
    • 0010962742 scopus 로고    scopus 로고
    • "The Conditional CAPM and the Cross-Section of Expected Returns"
    • (March)
    • Jagannathan, Ravi, and Zhenyu Wang. 1996. "The Conditional CAPM and the Cross-Section of Expected Returns." J. Finance 51 (March): 3-53.
    • (1996) J. Finance , vol.51 , pp. 3-53
    • Jagannathan, R.1    Wang, Z.2
  • 34
    • 0041181133 scopus 로고    scopus 로고
    • "An Asymptotic Theory for Estimating Beta-Pricing Models Using Cross-Sectional Regression"
    • (August)
    • Jagannathan, Ravi, and Zhenyu Wang. 1998. Αn Asymptotic Theory for Estimating Beta-Pricing Models Using Cross-Sectional Regression." J. Finance 53 (August): 1285-1309.
    • (1998) J. Finance , vol.53 , pp. 1285-1309
    • Jagannathan, R.1    Wang, Z.2
  • 35
    • 0040633111 scopus 로고    scopus 로고
    • "Two-Pass Tests of Asset Pricing Models with Useless Factors"
    • (February)
    • Kan, Raymond M., and Chu Zhang. 1999. "Two-Pass Tests of Asset Pricing Models with Useless Factors." J. Finance 54 (February): 203-35.
    • (1999) J. Finance , vol.54 , pp. 203-235
    • Kan, R.M.1    Zhang, C.2
  • 36
    • 0000781833 scopus 로고
    • "Expectations and Volatility of Consumption and Asset Returns"
    • Kandel, Shmuel, and Robert F. Stambaugh. 1990. "Expectations and Volatility of Consumption and Asset Returns." Rev. Financial Studies 3 (2): 207-32.
    • (1990) Rev. Financial Studies , vol.3 , Issue.2 , pp. 207-232
    • Kandel, S.1    Stambaugh, R.F.2
  • 37
    • 0013020712 scopus 로고    scopus 로고
    • "Can the Market Add and Subtract? Mispricing in Tech Stock Carve-outs"
    • (April)
    • Lamont, Owen A., and Richard H. Thaler. 2003. "Can the Market Add and Subtract? Mispricing in Tech Stock Carve-outs." J.P.E. III (April): 227-68.
    • (2003) J.P.E. , vol.3 , pp. 227-268
    • Lamont, O.A.1    Thaler, R.H.2
  • 38
    • 0012462939 scopus 로고    scopus 로고
    • "Consumption, Aggregate Wealth, and Expected Stock Returns"
    • (June)
    • Lettau, Martin, and Sydney Ludvigson. 2001a. "Consumption, Aggregate Wealth, and Expected Stock Returns." J. Finance 56 (June): 815-49.
    • (2001) J. Finance , vol.56 , pp. 815-849
    • Lettau, M.1    Ludvigson, S.2
  • 39
    • 0035681734 scopus 로고    scopus 로고
    • "Resurrecting the (C)CAPM: A Cross-Sectional Test When Risk Premia Are Time-Varying"
    • (December)
    • Lettau, Martin, and Sydney Ludvigson. 2001b. "Resurrecting the (C)CAPM: A Cross-Sectional Test When Risk Premia Are Time-Varying." J.P.E. 109 (December): 1238-87.
    • (2001) J.P.E. , vol.109 , pp. 1238-1287
    • Lettau, M.1    Ludvigson, S.2
  • 41
    • 7544232555 scopus 로고    scopus 로고
    • "Housing Collateral, Consumption Insurance and Risk Premia: An Empirical Perspective"
    • Working Paper no. 9959 (September), NBER, Cambridge, MA
    • Lustig, Hanno, and Stijn Van Nieuwerburgh. 2003. "Housing Collateral, Consumption Insurance and Risk Premia: An Empirical Perspective." Working Paper no. 9959 (September), NBER, Cambridge, MA.
    • (2003)
    • Lustig, H.1    Van Nieuwerburgh, S.2
  • 42
    • 0040205313 scopus 로고    scopus 로고
    • "Decision Frequency and Synchronization across Agents: Implications for Aggregate Consumption and Equity Return"
    • (September)
    • Lynch, Anthony W. 1996. "Decision Frequency and Synchronization across Agents: Implications for Aggregate Consumption and Equity Return." J. Finance 51 (September): 1479-97.
    • (1996) J. Finance , vol.51 , pp. 1479-1497
    • Lynch, A.W.1
  • 43
    • 0000626013 scopus 로고
    • "Risk and Return: Consumption Beta versus Market Beta"
    • (August)
    • Mankiw, N. Gregory, and Matthew D. Shapiro. 1986. "Risk and Return: Consumption Beta versus Market Beta." Rev. Econ. and Statis. 68 (August): 452-59.
    • (1986) Rev. Econ. and Statis. , vol.68 , pp. 452-459
    • Mankiw, N.G.1    Shapiro, M.D.2
  • 44
    • 0040629446 scopus 로고    scopus 로고
    • "Can Costs of Consumption Adjustment Explain Asset Pricing Puzzles?"
    • (April)
    • Marshall, David A., and Nayan G. Parekh. 1999. "Can Costs of Consumption Adjustment Explain Asset Pricing Puzzles?" J. Finance 54 (April): 623-54.
    • (1999) J. Finance , vol.54 , pp. 623-654
    • Marshall, D.A.1    Parekh, N.G.2
  • 45
    • 46549099071 scopus 로고
    • "The Equity Premium: A Puzzle"
    • (March)
    • Mehra, Rajnish, and Edward C. Prescott. 1985. "The Equity Premium: A Puzzle." J. Monetary Econ. 15 (March): 145-61.
    • (1985) J. Monetary Econ. , vol.15 , pp. 145-161
    • Mehra, R.1    Prescott, E.C.2
  • 46
    • 0000706085 scopus 로고
    • "A Simple, Positive Semi-definite, Heteroskedasticity and Autocorrelation Consistent Covariance Matrix"
    • (May)
    • Newey, Whitney K., and Kenneth D. West. 1987. "A Simple, Positive Semi-definite, Heteroskedasticity and Autocorrelation Consistent Covariance Matrix." Econometrica 55 (May): 703-8.
    • (1987) Econometrica , vol.55 , pp. 703-708
    • Newey, W.K.1    West, K.D.2
  • 47
    • 0041724275 scopus 로고    scopus 로고
    • "Spendthrift in America? On Two Decades of Decline in the U.S. Savings Rate"
    • edited by Ben S. Bernanke and Julio J. Rotemberg. Cambridge, MA: MIT Press
    • Parker, Jonathan A. 2000. "Spendthrift in America? On Two Decades of Decline in the U.S. Savings Rate." In NBER Macroeconomics Annual 1999, vol. 14, edited by Ben S. Bernanke and Julio J. Rotemberg. Cambridge, MA: MIT Press.
    • (2000) NBER Macroeconomics Annual 1999 , vol.14
    • Parker, J.A.1
  • 48
    • 0039296385 scopus 로고    scopus 로고
    • "The Consumption Risk of the Stock Market"
    • Parker, Jonathan A. 2001. "The Consumption Risk of the Stock Market." Brookings Papers Econ. Activity, no. 2, 279-333.
    • (2001) Brookings Papers Econ. Activity , Issue.2 , pp. 279-333
    • Parker, J.A.1
  • 49
    • 2942706022 scopus 로고    scopus 로고
    • "Consumption Risk and Expected Stock Returns"
    • (May)
    • Parker, Jonathan A. 2003. "Consumption Risk and Expected Stock Returns." A.E.R. Papers and Proc. 93 (May): 376-82.
    • (2003) A.E.R. Papers and Proc. , vol.93 , pp. 376-382
    • Parker, J.A.1
  • 50
    • 15844430206 scopus 로고    scopus 로고
    • "Consumption Risk and Cross-Sectional Returns"
    • Working Paper no. 9538 (March), NBER, Cambridge, MA
    • Parker, Jonathan A., and Christian Julliard. 2003. "Consumption Risk and Cross-Sectional Returns." Working Paper no. 9538 (March), NBER, Cambridge, MA.
    • (2003)
    • Parker, J.A.1    Julliard, C.2
  • 51
    • 2942756915 scopus 로고    scopus 로고
    • "Comment" [on Gabaix and Laibson, "The 6D Bias and the Equity-Premium Puzzle"]
    • edited by Ben S. Bernanke and Ken Rogoff. Cambridge, MA: MIT Press
    • Piazzesi, Monika. 2002. "Comment" [on Gabaix and Laibson, "The 6D Bias and the Equity-Premium Puzzle"]. In NBER Macroeconomics Annual 2001, vol. 16, edited by Ben S. Bernanke and Ken Rogoff. Cambridge, MA: MIT Press.
    • (2002) NBER Macroeconomics Annual 2001 , vol.16
    • Piazzesi, M.1
  • 52
    • 7544222132 scopus 로고    scopus 로고
    • "Housing, Consumption, and Asset Pricing"
    • Manuscript, Dept. Econ., Univ. California, Los Angeles
    • Piazzesi, Monika, Martin Schneider, and Selale Tuzel. 2003. "Housing, Consumption, and Asset Pricing." Manuscript, Dept. Econ., Univ. California, Los Angeles.
    • (2003)
    • Piazzesi, M.1    Schneider, M.2    Tuzel, S.3
  • 53
    • 4243897533 scopus 로고    scopus 로고
    • "Approximate Equilibrium Asset Prices"
    • Working Paper no. 6611 (June), NBER, Cambridge, MA
    • Restoy, Fernando, and Philippe Weil. 1998. "Approximate Equilibrium Asset Prices." Working Paper no. 6611 (June), NBER, Cambridge, MA.
    • (1998)
    • Restoy, F.1    Weil, P.2
  • 54
    • 0016997122 scopus 로고
    • "The Valuation of Uncertain Income Streams and the Pricing of Options"
    • (Autumn)
    • Rubinstein, Mark. 1976. "The Valuation of Uncertain Income Streams and the Pricing of Options." Bell J. Econ. 7 (Autumn): 407-25.
    • (1976) Bell J. Econ. , vol.7 , pp. 407-425
    • Rubinstein, M.1
  • 55
    • 0009885155 scopus 로고
    • "The Stochastic Behavior of Durable and Nondurable Consumption"
    • (May)
    • Startz, Richard. 1989. "The Stochastic Behavior of Durable and Nondurable Consumption." Rev. Econ. and Statis. 71 (May): 356-63.
    • (1989) Rev. Econ. and Statis. , vol.71 , pp. 356-363
    • Startz, R.1
  • 56
    • 0000681551 scopus 로고
    • "The Construction of U.S. Consumption Data: Some Facts and Their Implications for Empirical Work"
    • (September)
    • Wilcox, David W. 1992. "The Construction of U.S. Consumption Data: Some Facts and Their Implications for Empirical Work." A.E.R. 82 (September): 922-41.
    • (1992) A.E.R. , vol.82 , pp. 922-941
    • Wilcox, D.W.1
  • 57
    • 15844428846 scopus 로고    scopus 로고
    • "A Consumption-Based Explanation of Expected Stock Returns"
    • Manuscript, Dept. Econ., Harvard Univ
    • Yogo, Motohiro. 2003. "A Consumption-Based Explanation of Expected Stock Returns." Manuscript, Dept. Econ., Harvard Univ.
    • (2003)
    • Yogo, M.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.