As I understood it, some financial economists claim that there is no such thing as an equity risk premium over bonds. At its simplest, they state that any additional return is wholly counterbalanced by the risk. However, during an Institute of Actuaries seminar held on 18 May 2000, a “financial economist actuary” stated that there can be an allowance for an extra return. This material has been moved to discount rates, dealing with MVR alone.

There are two static charts, showing risk premia over periods of 10 years and 15 years. The mean differences between the risk premia (MVR v DVR) are quite high but the curves appear to be highly correlated.

The interactive chart shows the results by start year (upper slider) and period length (lower slider). The start year plus period length cannot sum to more than 2022.