What does the equity premium mean?

Grant, Simon and Quiggin, John (2005) What does the equity premium mean?. The Economists' Voice, 2 4: 1-7. doi:10.2202/1553-3832.1088

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Author Grant, Simon
Quiggin, John
Title What does the equity premium mean?
Journal name The Economists' Voice   Check publisher's open access policy
ISSN 1553-3832
Publication date 2005
Sub-type Article (original research)
DOI 10.2202/1553-3832.1088
Open Access Status File (Publisher version)
Volume 2
Issue 4
Start page 1
End page 7
Total pages 7
Place of publication Berlin, Germany
Publisher Walter de Gruyter GmbH
Language eng
Abstract Simon Grant and John Quiggin argue that taking the equity premium seriously—-the well-known fact that the average annual historical return of stocks is seven times that of government bonds and other debt-—has many implications, the most robust of which is that recessions are extremely costly even if they don’t lower average consumption and that macroeconomic stabilization policies are more important than has been thought.
Keyword Equity premium puzzle
Resource allocation
Welfare economics
Public policy
Q-Index Code C1
Q-Index Status Provisional Code
Institutional Status UQ
Additional Notes Article 2

Document type: Journal Article
Sub-type: Article (original research)
Collections: Excellence in Research Australia (ERA) - Collection
School of Economics Publications
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Created: Thu, 12 Mar 2009, 11:17:17 EST by Jason Parr on behalf of School of Economics