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4 edition of Intermediated quantities and returns found in the catalog.

Intermediated quantities and returns

Rajnish Mehra

Intermediated quantities and returns

by Rajnish Mehra

  • 327 Want to read
  • 37 Currently reading

Published by Federal Reserve Bank of Minneapolis, Research Dept. in [Minneapolis, MN] .
Written in English


About the Edition

There is a large amount of intermediated borrowing and lending between households. Some of it is intergenerational, but most is between older households. The average difference in borrowing and lending rates is over 2 percent. In this paper, we develop a model economy that displays these facts and matches not only the returns on assets but also their quantities. The heterogeneity giving rise to borrowing and lending and differences in equity holdings depends on differences in the strength of the bequest motive. In equilibrium, the lenders are annuity holders and the borrowers are those who have equity holdings, who live off its income when retired, and who leave a bequest. The borrowing rate and return on equity are the same in the absence of aggregate uncertainty. The divergence between borrowing and lending rates can thus give rise to an equity premium, even in a world without aggregate uncertainty.

Edition Notes

StatementRajnish Mehra, Edward C. Prescott, and Facundo Piguillem.
SeriesWorking paper / Federal Reserve Bank of Minneapolis, Research Dept -- 655
ContributionsPiguillem, Facundo., Prescott, Edward C., Federal Reserve Bank of Minneapolis. Research Dept.
Classifications
LC ClassificationsHB1
The Physical Object
FormatElectronic resource
ID Numbers
Open LibraryOL16370396M
LC Control Number2007619393

- Finance has been greatly influenced by the theory of perfect competition - With its assumptions of many buyers and sellers, perfect information etc. the idea of frictionless markets is unconvincing as a model of many industries - However, the ideal comes close to being fulfilled in finance, except when things go wrong, like the credit crunch. productivity, the degree of returns to scale, and the risk-free rate; it is given by: k = E(˚) 1 + r 1 1 ; (1) where ris the risk-free rate, E(˚) is expected productivity, and.

RAJNISH MEHRA 6. BOOK The Handbook of the Equity Risk Premium, edited volume in the North Holland Handbook of Finance Series, Elsevier, Amsterdam, “Intermediated Quantities and Returns” (with F. Piguillem and E.C. Prescott). Working Paper, RAJNISH MEHRA 7. Whatever your desired output is, my suggestion is the same: check if there are enough results and, if necessary, call get_relative_quantities again, either reducing max_results (to get the remaining elements) or increasing max_proportion (discarding the initial results and accepting more and more of each item). Do this as many times as needed.

CHAPTER 12D - QUANTITIES. 12D-1 MEASUREMENT. General measurement guidelines are defined in Subsection These include the guidelines for measuring Work or Materials on the unit basis, length basis, area basis, weight basis, volume basis, time basis and lump sum basis. Specific. Book Description Oxford University Press, Condition: New. Brand New, Never Used, Shipped from Thailand, Delivered within business days. Seller Inventory # More information about this seller | Contact this seller/5(4).


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Intermediated quantities and returns by Rajnish Mehra Download PDF EPUB FB2

Get this from a library. Intermediated quantities and returns. [Rajnish Mehra; Facundo Piguillem; Edward C Prescott; National Bureau of Economic Research.] -- The difference between average borrowing and lending rates in the United States is over 2 percent.

In spite of this large difference, there is over times GNP in of intermediated borrowing. Intermediated Quantities and Returns Rajnish Mehra, Facundo Piguillem, and Edward C. Prescott, Working Paper Revised March ABSTRACT _____ There is a large amount of intermediated borrowing and lending between households.

The average. Intermediated Quantities and Returns. there is over times GNP in of intermediated borrowing and lending between households. In this paper a model is developed consistent with these. Intermediated Quantities and Returns Rajnish Mehra, Edward C.

Prescott, and Facundo Piguillem Working Paper September ABSTRACT _____ There is a large amount of intermediated borrowing and lending between households.

Some of it is. Intermediated Quantities and Returns* Rajnish Mehra Arizona State University, University of California, Santa Barbara, of little use in matching the quantities of assets held and intermediated.

much intermediated borrowing and lending between households even though this intermediation is so costly. To address this question we construct.

Intermediated Quantities and Returns Rajnish Mehra University of California, Santa Barbara and NBER Edward C. Prescott Arizona State University Federal Reserve Bank of Minneapolis and Facundo Piguuillem Federal Reserve Bank of Minneapolis University of Minnesota August Revised 26 September Beige Book Request a Speaker Publications Archive Back to Intermediated Quantities and Returns Staff Report | Published September 1, In spite of this large difference, there is over times GNP in of intermediated borrowing and lending between households.

In this paper a model is developed consistent with these facts. Rajnish Mehra & Facundo Piguillem & Edward C. Prescott. "Intermediated quantities and returns," Staff Report, Federal Reserve Bank of Minneapolis. Articles. Rajnish Mehra, "Consumption-Based Asset Pricing Models," Annual Review of Financial Economics, Annual Reviews, vol.

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