Browsing Department of Economics by Subject "JEL Classification Number: G12"

Now showing items 1-5 of 5

    • Consumption smoothing and the equity premium 
      Eden, Benjamin (Vanderbilt University, 2010)
      Abstract: The paper investigates the role of the Intertemporal Elasticity of Substitution () in determining the equity premium. This is done in an overlapping generations economy populated by agents that live for 2 periods ...
    • Liquidity Premium and International Seigniorage Payments 
      Eden, Benjamin (Vanderbilt University, 2009)
      Why do people hold dollar denominated assets when higher rate of return alternatives are available? Can a country collect seigniorage payments from other countries in the long run? Does the supplier of the international ...
    • Liquidity, Equity Premium and Participation' 
      Eden, Benjamin (Vanderbilt University, 2007)
      I use price dispersion to model liquidity. Buyers may be rationed at the low price. An asset is more liquid if it is used relatively more in low price transactions and the probability that it will buy at the low price is ...
    • Substitution, Risk Aversion and Asset Prices: An Expected Utility Approach 
      Eden, Benjamin (Vanderbilt University, 2008)
      The standard power utility function is widely used to explain asset prices. It assumes that the coefficient of relative risk aversion is the inverse of the elasticity of substitution. Here I use the Kihlstrom and Mirman ...
    • Temptation and Self-Control: Some Evidence and Applications 
      Huang, Kevin X.D.; Liu, Zheng; Zhu, John Q. (Vanderbilt University, 2007)
      This paper studies the empirical relevance of temptation and self-control using household-level data from the Consumer Expenditure Survey. We construct an infinite-horizon consumption-savings model that allows, but does ...