Browsing by Author "Desgranges, Gabriel"
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Asset prices and priceless assets / Julien Penasse ; Gabriel Desgranges, Co-Supervisor ; Guillaume Chevillon, Examiner Penasse, Julien (2014)Understanding asset prices fluctuations is a central issue in financial economics. In a rational, no-bubble model, the present-value identity links the dividend-price ratio to future cash flows and future discount rates. ...