SAN FRANCISCO, California, April 7 (TNSLrpt) -- The Federal Reserve Bank of San Francisco issued the following white paper (No. 2026-06) on March 31, 2026, by Sanjay R. Singh entitled "Can Models with Idiosyncratic Risk Solve the Equity Premium Puzzle? Redux."

Here are excerpts:

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Can idiosyncratic risk explain the equity premium? We revisit this question using a novel measure of imperfect risk sharing, implied by a large class of heterogeneou . . .

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