Is There a Difference Between Productivity Growth and Risk Aversion?

There are many other completing explanations for what's going on. For example, the lack of productivity growth. Are you saying that what we've found here is more important? Wher we tryd to do exactly that. And it is indeed the case that, at least for the consumption wealth ratio, it's not that these other things don't matter. But for the low interust rates, that average component, this boom bust component, is a one of the dominant fors there. It could explain why the ssate return total capital can be high, and te return risk for rates could be very low.