---
title: A New Keynesian Model of the Term Structures of Equity and Bond Returns
url: https://www.ml-quant.com/papers/repec/bde-wpaper-2635e/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-10-23
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: RePEc:bde:wpaper:2635e
source_url: https://econpapers.repec.org/RePEc:bde:wpaper:2635e
featured: 2026-10-23
citations: unknown
topic: Asset Pricing & Factors
---


# A New Keynesian Model of the Term Structures of Equity and Bond Returns

A production economy with sticky prices explains equity and bond term structure slopes and cyclicality through countercyclical inflation and habit-driven risk premiums.

- Source: https://econpapers.repec.org/RePEc:bde:wpaper:2635e
- Identifier: RePEc:bde:wpaper:2635e
- Released: 2026-10-19
- First featured: Quant Letter No. 136 (2026-10-23): https://www.ml-quant.com/issues/2026-10-23/
- Citations (Semantic Scholar): not tracked
- Published in: not yet
- Topic: Asset Pricing & Factors
- Authors: Pierlauro Lopez, Francisco Vázquez-Grande, David López-Salido

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