Though linear projections of returns on the slope of the yield curve have contradicted the implications of the traditional expectations theory, ' we show that t

An affine asset pricing model in which agents have rational but heterogeneous expectations about future asset prices is developed. We estimate the model using d

Though linear projections of returns on the slope of the yield curve have contradicted the implications of the traditional quot;expectations theory,quot; we sho

Though linear projections of returns on the slope of the yield curve have contradicted the implications of the traditional quot;expectations theory,quot; we sho