Direct preferences for wealth, the risk premium puzzle, growth, and policy effectiveness

DOI10.1016/S0165-1889(00)00043-9zbMath0990.91039OpenAlexW2011664299MaRDI QIDQ5958704

Liutang Gong, Heng-Fu Zou

Publication date: 3 March 2002

Published in: Journal of Economic Dynamics \& Control (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/s0165-1889(00)00043-9

zbMATH Keywords

assetsequilibrium returnsfiscal policiesstochastic model of growth

Mathematics Subject Classification ID

Stochastic models in economics (91B70) Economic growth models (91B62)

Related Items (8)

Complex stock price dynamics under Max Weber's spirit of capitalism hypothesis ⋮ Precautionary saving demand and consumption dynamics with the spirit of capitalism and regime switching ⋮ THE SPIRIT OF CAPITALISM, ASSET RETURNS, AND THE BUSINESS CYCLE ⋮ Production technologies in stochastic continuous time models ⋮ Stochastic growth with social-status concern: the existence of a unique stable distribution ⋮ THE WEALTH DISTRIBUTION AND THE DEMAND FOR STATUS ⋮ Stochastic optimal economic growth model with natural resources ⋮ Recursive utility, productive government expenditure and optimal fiscal policy

Cites Work

• Risk, the financial market, and macroeconomic equilibrium
• A portfolio approach to endogenous growth: equilibrium and optimal policy
• Macroeconomic Policies, Growth, and Welfare in a Stochastic Economy
• Optimal Economic Growth and Wealth Effects
• Unnamed Item

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