The Market Risk Premium and Long-Term Stock Returns

Rewards to Extending Maturity

“…'Domian and Reichenstein [1997] begin in 1942, one year later than Fama and French, because their study includes Treasury bond returns. 9Domian and Reichenstein [1997] Reichenstein and Rich [1993] for another tacti- Before 1942, there were not enough fully taxable bonds to reasonably estimate the bond returns.…”