Stock Prices and Fundamentals

The equity premium: A puzzle

1985 • 5,686 citations

By Force of Habit: A Consumption‐Based Explanation of Aggregate Stock Market Behavior

1999 • 5,300 citations

Lifetime Portfolio Selection under Uncertainty: The Continuous-Time Case

1969 • 5,148 citations

Substitution, Risk Aversion, and the Temporal Behavior of Consumption and Asset Returns: A Theoretical Framework

1989 • 4,242 citations

Dividend yields and expected stock returns

1988 • 3,736 citations

Principles of Corporate Finance.

1981 • 3,686 citations

Stock Prices, Earnings, and Expected Dividends

1988 • 2,383 citations

Dividend Yields and Expected Stock Returns: Alternative Procedures for Inference and Measurement

1992 • 1,304 citations

Asset Pricing with Heterogeneous Consumers

1996 • 1,248 citations

The consumption of stockholders and nonstockholders

1991 • 1,223 citations

Why do so Few Hold Stocks?

1995 • 1,060 citations

Nonexpected Utility in Macroeconomics

1990 • 1,019 citations

THE DEMAND FOR RISKY ASSETS

1977 • 977 citations

The Economics of Risk and Time

2001 • 973 citations

Inflation, Rational Valuation and the Market

1979 • 942 citations

Valuation Ratios and the Long-Run Stock Market Outlook

1998 • 816 citations

Limited market participation and volatility of asset prices

1993 • 690 citations

Earnings and Expected Returns

1998 • 668 citations

Dividend yields and expected stock returns: alternative procedures for inference and measurement

1992 • 607 citations

Stock Prices, Earnings, and Expected Dividends

1988 • 585 citations

An Equilibrium Model with Restricted Stock Market Participation

1998 • 444 citations

Baby Boom, Population Aging, and Capital Markets

1994 • 416 citations

Asset pricing with idiosyncratic risk and overlapping generations

2007 • 374 citations

Stock Ownership Patterns, Stock Market Fluctuations, and Consumption

1995 • 346 citations

The Consumption of Stockholders and Non-Stockholders

1990 • 277 citations

Movements in the Equity Premium

1993 • 276 citations

Where is the Market Going? Uncertain Facts and Novel Theories

1998 • 187 citations

Asset Pricing with Idiosyncratic Risk and Overlapping Generations

2000 • 165 citations

Using Financial Assets to Hedge Labor Income Risks: Estimating the Benefits

2000 • 91 citations

Prospect Theory and Asset Prices

1999 • 86 citations

Junior Can't Borrow: A New Perspective on the Equity Premium Puzzle

2000 • 72 citations

Limited stock market participation

1998 • 44 citations

Valuing the Dow: A Bottom-Up Approach

1999 • 40 citations

Labor Supply Flexibility and Portfolio Choice in a Life-Cycle Model

1992 • 30 citations

Stock Market Valuation Indicators: Is This Time Different?

1997 • 6 citations