Intermediary Asset Pricing and the Financial Crisis

IF 5 3区 经济学 Q1 BUSINESS, FINANCE
Zhiguo He, Arvind Krishnamurthy
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Abstract

"Intermediary asset pricing'' understands asset prices and risk premia through the lens of frictions in financial intermediation. Perhaps motivated by phenomena in the financial crisis, intermediary asset pricing has been one of the fastest growing areas of research in finance. This article explains the theory behind intermediary asset pricing and in particular how it is different from other approaches to asset pricing. The article also covers selective empirical evidence in favor of intermediary asset pricing.
中介资产定价与金融危机
《中介资产定价》通过金融中介的摩擦来理解资产价格和风险溢价。或许是受到金融危机现象的影响,中介资产定价已成为金融领域发展最快的研究领域之一。本文解释了中介资产定价背后的理论,特别是它与其他资产定价方法的不同之处。文章还涵盖了有利于中介资产定价的选择性经验证据。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
5.00
自引率
0.00%
发文量
26
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