Ex-ante equity risk premia: Expectational estimates using stock market returns forecasts in the emerging equity market
We estimated the ex-ante equity risk premium for the Republic of Macedonia, which is Stuffed Animal a young, small and open emerging market.We polled academics and practitioners for their expectations on the stock market index MBI10 as a proxy for market portfolio.The risk premium is the expected MBI10 return relative to a government bond yield.Usi