So I did a bit of research of the “equity risk premium” which obviously can be estimated differently using different models, and I read the generic rule that:
t-bills should be used for one period
t-bonds should be used for multi-period
However, most methods prefer the long bond rate. Knowing that there are many models which have an equity risk premium involved (CAPM, Build up method, GGM, Ibbotsen-Chen etc), what are a list of consistent rules so that I know which rate to use for each model?