This paper empirically documents that expected growth volatility is a key driver of the equity
term structure dynamics. A general equilibrium model jointly explains four important …

Slicing an asset by payout horizons unseals information about its future returns and cash
flows. As an example, we slice an equity market index into granular pieces (dividend strips) …

We study the impact of information processing and rational learning on the term structures of
equity risk, risk premia, and bond yields. In contrast with the full information economy …

This paper studies the impact of information processing and learning about economic
fundamentals on the level and timing of risk premia in the cross-section of firms. Learning …

We investigate the roles of habit consumption and risk-aversion heterogeneity in
determining the slope and volatility of the equity term structure. Our model produces an …