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National income accounting would be a relatively simple matter were it not for “capital.” All flows of output would then be for immediate consumption, and labor would be the sole factor of prod...
Auctions for Injecting Bank Capital     Bank Capital  capital       2015/9/18
Public discussion has turned, in the past few days, toward using some of the $700 billion in rescue funds for the injection of government money into banks in return for ownership stakes. The purpo...
In this note we extend the search-based monetary DSGE model studied in Aruoba and Schorfheide (2010) and introduce liquid capital claims. More specifically, buyers in the decentralized market can use ...
Recent work has reduced the gap between search-based monetary theory and mainstream macroeconomics byincorporating into the search model some centralized markets as well as some decentralized markets ...
The e§ects of money (anticipated ináation) on capital formation is a classic issue in macroeco-nomics. Previous papers adopt reduced-form approaches, putting money in the utility function,or imposing ...
In a recent paper in this Revieti*, Isaac Ehrlich found a negative relationship betueen the use of the death penalty and homicide rates, over the three and a half decades from 1935 69 in the Unite...
This paper studies optimal dynamic tax policy under the threat of political reform. A policy will be reformed ex post if a large enough coalition of citizens supports reform; thus, sustainable policie...
Heterogeneity in capital and skills in a neoclassical stochastic growth model.
Capital–Skill Complementarity and Balanced Growth.
Using 1959D1991 growth rates for 449 4-digit US manufacturing industries, I test ÔideaÕ and Ôrival human capitalÕ models of endogenous growth. I Tnd the following: First, TFP growt...
The value of a firm’s securities measures the value of the firm’s productive assets. If the assets include only capital goods and not a permanent monopoly franchise, the value of the securities measur...
华中科技大学投资学课件Chapter8 The Capital Asset Pricing Model。
The paper presents an overlapping-generations model where agents vote on whether to open or close the economy to international capital flows. Political decisions are shaped by the risk over capital an...

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