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In Search of a Risk-Free Asset
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In Search of a Risk-Free Asset (2014)In Search of a Risk-Free AssetFinancial Literacy among the Young (2010)Financial Literacy among the …The Age of Reason: Financial Decisions over the Life Cycle and Implications for Regulation (2009)The Age of Reason: Financial …Five Facts about Prices: A Reevaluation of Menu Cost Models * (2008)Five Facts about Prices: A Re…Shrouded Attributes, Consumer Myopia, and Information Suppression in Competitive Markets (2006)Shrouded Attributes, Consumer…Over-the-Counter Markets (2004)Over-the-Counter MarketsSome Evidence on the Importance of Sticky Prices (2002)Some Evidence on the Importan…State-Dependent Pricing and the General Equilibrium Dynamics of Money and Output (1999)State-Dependent Pricing and t…Staggered Prices in a Utility-Maximizing Framework (1996)Staggered Prices in a Utility…The Rigidity of Prices: Evidence from the Banking Industry (1991)The Rigidity of Prices: Evide…Staggered prices in a utility-maximizing framework (1983)Staggered prices in a utility…Equilibrium Price Dispersion (1983)Equilibrium Price DispersionBank Runs, Deposit Insurance, and Liquidity (1983)Bank Runs, Deposit Insurance,…The Economics of Information (1976)The Economics of InformationRisk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…A model of price adjustment (1971)A model of price adjustmentThe Economics of Information (1961)The Economics of Information"Rational" Expectations, the Optimal Monetary Instrument, and the Optimal Money Supply Rule (1975)Inflation and Costs of Price Adjustment (1977)Aggregate Dynamics and Staggered Contracts (1980)Behavioral Macroeconomics and Macroeconomic Behavior (2002)Employment Fluctuations with Equilibrium Wage Stickiness (2005)Unemployment Fluctuations with Staggered Nash Wage Bargaining (2009)Globalization and the Gains From Variety (2006)Optimal Sticky Prices under Rational Inattention (2009)Is the Phillips Curve Alive and Well after All? Inflation Expectations and the Missing Disinflation (2015)American Economic Review (2019)The Return to Protectionism* (2019)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. 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References

  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1983Bank Runs, Deposit Insurance, and Liquidity9,689 cited
  • 1983Staggered prices in a utility-maximizing framework7,892 cited
  • 1961The Economics of Information5,253 cited
  • 1996Staggered Prices in a Utility-Maximizing Framework4,369 cited
  • 1976The Economics of Information3,287 cited
  • 2010Financial Literacy among the Young1,795 cited
  • 1971A model of price adjustment1,642 cited
  • 2008Five Facts about Prices: A Reevaluation of Menu Cost Models *1,525 cited
  • 2006Shrouded Attributes, Consumer Myopia, and Information Suppression in Competitive Markets1,431 cited
  • 2002Some Evidence on the Importance of Sticky Prices1,323 cited
  • 1983Equilibrium Price Dispersion1,288 cited
  • 2004Over-the-Counter Markets1,199 cited
  • 2009The Age of Reason: Financial Decisions over the Life Cycle and Implications for Regulation843 cited
  • 1991The Rigidity of Prices: Evidence from the Banking Industry778 cited
  • 1999State-Dependent Pricing and the General Equilibrium Dynamics of Money and Output

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