An Equilibrium Model with Restricted Stock Market Participation

The equity premium: A puzzle

1985 • 5,686 citations

An intertemporal asset pricing model with stochastic consumption and investment opportunities

1979 • 2,786 citations

Habit Formation: A Resolution of the Equity Premium Puzzle

1990 • 2,223 citations

An Intertemporal General Equilibrium Model of Asset Prices

1985 • 2,096 citations

Precautionary Saving in the Small and in the Large

1990 • 1,670 citations

Brownian Motion and Stochastic Calculus

1988 • 1,489 citations

The equity premium puzzle and the risk-free rate puzzle

1989 • 1,394 citations

Saving and Uncertainty: The Precautionary Demand for Saving

1968 • 1,324 citations

Asset Pricing with Heterogeneous Consumers

1996 • 1,248 citations

A Simple Model of Capital Market Equilibrium with Incomplete Information

1987 • 1,247 citations

The consumption of stockholders and nonstockholders

1991 • 1,223 citations

Stochastic Integration and Differential Equations

1990 • 1,167 citations

Martingale and Duality Methods for Utility Maximization in an Incomplete Market

1991 • 792 citations

Limited market participation and volatility of asset prices

1993 • 690 citations

Evaluating the Effects of Incomplete Markets on Risk Sharing and Asset Pricing

1996 • 683 citations

International capital market equilibrium with investment barriers

1974 • 570 citations

Consumption and portfolio policies with incomplete markets and short-sale constraints: The infinite dimensional case

1991 • 473 citations

International Asset Pricing under Mild Segmentation: Theory and Test

1985 • 372 citations

A Model of International Asset Pricing with a Constraint on the Foreign Equity Ownership

1986 • 350 citations

Asset returns with transactions costs and uninsured individual risk

1991 • 342 citations

Residual Risk, Trading Costs, and Commodity Futures Risk Premia:

1988 • 337 citations

Existence and Uniqueness of Multi-Agent Equilibrium in a Stochastic, Dynamic Consumption/Investment Model

1990 • 203 citations

On the Effects of Barriers to International Investment

1981 • 176 citations

Capital Flow Controls, International Asset Pricing, and Investors' Welfare: A Multi‐Country Framework

1989 • 159 citations

An Intertemporal General Equilibrium Asset Pricing Model: The Case of Diffusion Information

1987 • 142 citations

On the optimality of international capital market integration

1975 • 77 citations

The structure of financial equilibrium with exogenous yields

1990 • 75 citations

An Intertemporal Model of International Capital Market Segmentation

1996 • 56 citations

Market Participation and Sunspot Equilibria

1995 • 34 citations

International investment barriers in general equilibrium

1993 • 30 citations

The Role of Liquidity in Futures Market Innovations

1993 • 12 citations