Source: hloomberg, OECD, СЕРА analysis The real risk-free rate from in the early 2000's was relatively low before rising to close to 6% after the credit crunch in 2007. However, it should be noted for context that it was relatively high in the 1994/95 period at around 6%.
4.2.2. Equity/market risk premium As discussed in Section 3, the MRP has been subject to significant uncertainty owing to the problems implicit in the way that the value used to be calculated. The starting point for our estimation period is the time when views about the MRP were starting to significantly change and so an unthinking adoption of high values would not be appropriate — significant academic and professional debate about the right number was underway. As such, wc have set out a range that changes over time (see Hgure 4.4 below).
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