Essays on Consumption and Expected Returns
Yogo, Motohiro
This thesis consists of three essays on the relationship between consumption, the business cycle, and expected returns on financial assets.
The first essay is "A Consumption-Based Explanation of Expected Stock Returns". A revised version of the essay was published in The Journal of Finance 61:2 (April 2006), pp. 539-580.
The second essay is "Estimating the Elasticity of Intertemporal Substitution When Instruments Are Weak". The essay was pub...