G IbbotsonRoger
Abstract
The equity risk premium is a long-run equilibrium concept that estimates the future excess return of the stock market over and above the bond market. In this paper, I compare the various ways of estimating the equity risk premium and discuss some of the other premiums in the capital markets.
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The equity risk premium is a long-run equilibrium concept that estimates the future excess return of the stock market over and above the bond market. In this paper, I compare the various ways of estimating the equity risk premium and discuss some of the other premiums in the capital markets.
Key concepts: Equity premium puzzle, Equity risk, Risk premium, Equity capital markets, Economics, Financial economics, Equity (law), Liquidity premium