This paper examines the quantitative relationship between the elasticity of capital-labor substitution and the … observation, together with other empirical evidence, indicates that the elasticity of capital-labor substitution in the U …

This paper investigates how concentrated ownership of capital influences the pricing of risky assets in a production …-agent economy because the capital owners' consumption is more strongly linked to volatile dividends from equity. A temporary shock … to the technology for producing new capital (an "investment shock") causes dividend growth to be much more volatile than …

This paper explores the relationship between capital composition and productivity using a unique and remarkably … capital types, including computers, communications equipment, and software, are associated with current and subsequent years … exist for a number of key capital types. I also provide evidence of complementaries and substitutabilities among capital …

markets indicates that domestic agents may not be able to borrow in international capital markets to fully insure themselves …

The 1998 Annual Capital Expenditure Survey (ACES) provides information on disaggregate investment across a wide range …

We show that the steady-state optimal tax on capital income can be negative, positive, or zero in a neoclassical growth …-state optimal capital tax can range between -10 and 22%. …

This paper explores the relationship between capital composition and productivity using a unique and remarkably … capital types, including computers, communications equipment, and software, are associated with current and subsequent years … exist for a number of key capital types. I also provide evidence of complementaries and substitutabilities among capital …

The standard argument for abstracting from capital accumulation in sticky-price macro models is based on their short …-run focus: over this horizon, capital does not move much. This argument is more problematic in the context of real exchange rate … (RER) dynamics, which are very persistent. In this paper we study RER dynamics in sticky-price models with capital …

markets indicates that domestic agents may not be able to borrow in international capital markets to fully insure themselves …