SFB 303 Discussion Paper No. A - 318

Author: Drees, Burkhard, and Bernhard Eckwert
Title: A Simple Resolution of the Excess Volatility Puzzle
Abstract: If individual preferences exhibit risk complementarity, spill-over effects between asset markets may account for significant stock price volatility even if the dividends of most assets are stable.
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Creation-Date: September 1990
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