Economic research
Macroeconomics
A clearer view of prices, labor, policy, and public finances.
Equity markets
Equity valuation
Risk premiums and long-run return expectations
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United States
Economic research
A clearer view of prices, labor, policy, and public finances.
Equity markets
Risk premiums and long-run return expectations
Explore Damodaran’s annual implied premiums and the underlying valuation series.
Implied ERP (FCFE)
4.23%
Latest observation · 2025
Annual · Percent · 1961–2025