NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Econometric Analysis of Present Value Models When the Discount Factor Is near One

Kenneth D. West

NBER Working Paper No. 18247
Issued in July 2012

---- Acknowledgments ----

I thank Nonarit Bisonyabut, Roberto Duncan, Terry Iverson and Ping Yu for research assistance, and two anonymous referees, seminar audiences at Duke, the Triangle Econometrics Conference, the Far Eastern Meetings of the Econometric Society and the University of Wisconsin for helpful comments, and the National Science Foundation for financial support. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.

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