土地資産を考慮した消費に基づく資産価格モデルの推計
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概要
- 論文の詳細を見る
This paper presents empirical evidence on the Consumption-based Capital Asset Pricing Model (C-CAPM) taking land property into consideration. We consider the following two cases about the representative agent's utility function. One is the case of "consumption in utility function". The other is the case of "consumption and land property in utility function". The empirical evidence shows that the second case is accepted in the test of overidentifying restrictions while the first case is not.
- 関西学院大学の論文
- 2004-03-20