[{"id":14339,"title":"Asset Prices with Wealth Dispersion","permalink":"https:\/\/bschool.nus.edu.sg\/biz-events\/event\/asset-prices-with-wealth-dispersion\/","category":"Seminars and talks","event_dept":{"value":"finance","label":"Finance"},"event_sec_dept":null,"event_details":{"event_start_date":"17  August  2022","event_end_date":"17  August  2022","event_start_time":"3:30 pm","event_end_time":"5:00 pm","event_dress_code":"Smart casual"},"event_loc":{"eve_address_selection":"1","eve_location_1":{"eve_org":"NUS Business School","eve_build":"Mochtar Riady Building","eve_room":"Seminar Rm 6-1","eve_add":"15 Kent Ridge Drive","eve_count":"Singapore","eve_copos":"119245","eve_map_url":"https:\/\/goo.gl\/maps\/Q1kyjwxHNE22"},"eve_location_2":{"eve_org":"Shaw Foundation Alumni House","eve_build":"","eve_room":"Clove and Lemongrass Room Level 2","eve_add":"11 Kent Ridge Drive","eve_count":"Singapore","eve_copos":119244,"eve_map_url":"https:\/\/goo.gl\/maps\/docgThkDWFxKdb9c7"},"eve_location_3":{"eve_org":"Hon Sui Sen Memorial Library Auditorium","eve_build":"","eve_room":"","eve_add":"1 Hon Sui Sen Drive","eve_count":"Singapore","eve_copos":117588,"eve_map_url":"https:\/\/goo.gl\/maps\/NJjWK4RMpC92"},"eve_location_4":{"eve_org":"NUSS Kent Ridge Guild House","eve_build":"","eve_room":"Dalvey Room","eve_add":"9 Kent Ridge Drive","eve_count":"Singapore","eve_copos":119241,"eve_map_url":"https:\/\/goo.gl\/maps\/nXn2Luh96pH2"},"eve_location_5":{"eve_org":"Institute of Data Science","eve_build":"Innovation 4.0","eve_room":"1-3","eve_add":"3 Research Link","eve_count":"Singapore","eve_copos":117602,"eve_map_url":"https:\/\/goo.gl\/maps\/i1xocvvDh27QUXem7"},"eve_location_6":{"eve_org":"","eve_build":"","eve_room":"","eve_add":"","eve_count":"","eve_copos":"","eve_map_url":""},"eve_location_7":""},"event_introduction":null,"event_short_intro":null,"event_topic":null,"event_banner":null,"event_external_url":null,"event_registration_details":null,"event_speaker":[{"event_speaker_name":"Paul Ehling","event_speaker_designation":"Professor of Finance ","event_speaker_affiliation":"Norwegian Business School","event_speaker_picture":"https:\/\/bschool.nus.edu.sg\/biz-events\/wp-content\/uploads\/sites\/42\/2022\/08\/Prof-Paul-Ehling_photograph.jpg","event_speaker_url":"https:\/\/www.bi.edu\/about-bi\/employees\/department-of-finance\/paul-ehling\/","event_speaker_introduction":"<p><em>Joint research with Junjie Guo of CUFE, and Christian Heyerdahl-Larsen of Indiana University.<\/em><\/p>\n"}],"event_agenda":null,"event_photo_gallery":null,"event_presentations":null,"event_custom_heading":[{"event_custom_title":"NUS Seminar Series 2022","event_custom_details":"<p><span style=\"text-decoration: underline\">Abstract:<\/span><\/p>\n<p style=\"text-align: left\">With overlapping generations and heterogeneous risk aversion there is no unique relation between aggregate risk aversion and the real rate of interest, and this type of endogenous \u201cnoise\u201d cannot arise in an economy where agents live forever. Our framework accommodates many agent types and the noise emerges precisely because all (but one) consumption shares drive the economy. Adding wealth dispersion to aggregate risk aversion sufficiently summarizes the rich dynamics of the model. Consistent with the model, we construct \u201clevel\u201d and \u201cslope\u201d factors that do not require knowledge about agents\u2019 risk aversion to predict excess returns<\/p>\n"}],"event_enquiry_details":{"event_enq_full_name":"Patricia","event_enq_department":"Finance","event_enq_email":"","event_enq_telephone":"65163153","event_enq_website":""}}]