Can market incompleteness resolve asset pricing puzzles?

dc.contributor.author	Freeman, Mark C.	*
dc.date.accessioned	2009-06-08T09:21:56Z
dc.date.available	2009-06-08T09:21:56Z
dc.date.issued	2009-06-08T09:21:56Z
dc.identifier.citation	Freeman, M.C. (2004). Can market incompleteness resolve asset pricing puzzles? Journal of Business Finance and Accounting. Vol. 31, No. 7-8, pp. 927-949.	en
dc.identifier.uri	http://hdl.handle.net/10454/2771
dc.description	No	en
dc.description.abstract	This paper shows that the presence of persistent uninsurable risk concentrated in economic depressions has the potential to resolve two well¿known asset pricing puzzles. It is also shown that the presence of such risk in more normal economic expansions and recessions is likely to be much less relevant in determining equilibrium asset prices.	en
dc.language.iso	en	en
dc.relation.isreferencedby	http://www3.interscience.wiley.com/cgi-bin/fulltext/118777910/PDFSTART	en
dc.subject	Recessions	en
dc.subject	Income shocks	en
dc.subject	Equity premium puzzle	en
dc.subject	Precautionary saving	en
dc.subject	Market incompleteness	en
dc.title	Can market incompleteness resolve asset pricing puzzles?	en
dc.status.refereed	Yes	en
dc.type	Article	en
dc.type.version	No full-text available in the repository	en