Does Disposable Income Predict Consumption and StockReturns?
碩士 === 國立臺灣大學 === 國際企業學研究所 === 96 === We rewrite the utility function as the second-order Taylor’s series under the basic assumptions of Consumption-based CAPM. We then show the growth rate of disposable income can affect the growth rate of consumption. Campbell (2003) argues that the growth rate of...
| Main Authors: | , |
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| Other Authors: | |
| Format: | Others |
| Language: | zh-TW |
| Published: |
2008
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| Online Access: | http://ndltd.ncl.edu.tw/handle/91048945257170070699 |