Limited Stock Market Participation and the Equity Premium

By Valery Polkovnichenko. 2004

122 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/9a46b744fe2a4b72ecf4de9be2f1b0991c3488b8

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Citations in the corpus

Speculative Growth: Hints from the U.S. Economy (2006, unknown): “The analysis and proofs that follow refer to the dynamic system described by (30) and (31).”
Does Stock Market Wealth Matter for Consumption (2001, methodology): “This latter result seems anomalous — albeit consistent with Poterba and Samwick (1995) and Vissing-Jørgensen (1999) — but it fades substantially when we add lagged stock returns (see below).”
Inequality, stock market participation, and the equity premium (2013, background): “Others who have studied limited participation in related settings are Basak and Cuoco (1998), Heaton and Lucas (1999), Guvenen (2009), and Polkovnichenko (2004).”
The 6D Bias and the Equity-Premium Puzzle (2001, unknown): “Finally, the 6D bias complements participation bias (e.g., Vissing, 2000; Brav, Constantinides, and Geczy, 2000).”
Model Uncertainty, Limited Market Participation and Asset Prices (2005, background): “Several studies (Mankiw and Zeldes (1991), Basak and Cuoco (1998), Vissing-Jorgensen (1999), and Brav, Constantinides, and Geczy (2002)) find that equity premium increases as fewer investors participate in stock markets.”
Social Interaction and Stock-Market Participation (2004, unknown): “First, as argued by, e.g., Mankiw and Zeldes (1991), Brav, Constantinides and Gezcy (1999), Heaton and Lucas (1999) and Vissing-Jorgensen (1999), the participation rate can have a direct effect on the equity premium; thus an understanding of what drives participation can help shed light on the…”