Discounting the Distant Future: What Do Historical Bond Prices Imply about the Long-Term Discount Rate?
We present a thorough empirical study on real interest rates by also including risk aversion through the introduction of the market price of risk. From the viewpoint of complex systems science and its multidisciplinary approach, we use the theory of bond pricing to study the long-term discount rate...
| Main Authors: | , , , , , |
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| Format: | Journal article |
| Language: | English |
| Published: |
MDPI
2024
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