Limited Stock Market Participation and the Equity Premium ∗

  title={Limited Stock Market Participation and the Equity Premium ∗},
  author={Valery Polkovnichenko},
  • Valery Polkovnichenko
  • Published 2001
Comments are welcome. Parts of this paper were circulated earlier under the title " Heterogeneous labor income and preferences: Implications for stock market participation. " I am indebted to John Heaton and Debbie Lucas for their help, guidance and inspiration. I also wish to thank Jack Kareken for the editorial assistance and David Chapman, Pietro Veronesi and seminar participants at numerous universities for valuable comments on an earlier version. I am responsible for all remaining errors… CONTINUE READING
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Junior can’t borrow: a new perspective on the equity premium puzzle, The Quarterly

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Asset pricing in a neoclassical model with limited participation, working paper, Finance Deaprtment, Stern School, NYU

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Limited stock market participation and the equity premium puzzle, manuscript, University of Chicago

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Evaluating the effects of incomplete markets on risk sharing and asset pricing

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Limited market participation and asset pricing, manuscript, University of British Columbia

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Asset pricing with undiversifiable income risk and short sales constraints: deepening the equity premium puzzle

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The consumption of stockholders and nonstockholders

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