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

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

past gains and losses on investors’ risk aversion. The paper first presents a simple model examining how heterogeneous … changes in investors’ risk aversion affects portfolio decisions and stock prices. Second, the paper shows empirically that …

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 …

more generally, a financial friction that affects the supply of new capital. Under power utility with a risk aversion …This paper investigates how concentrated ownership of capital influences the pricing of risky assets in a production … concentrated ownership significantly magnifies the equity risk premium relative to an otherwise similar representative …

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 …

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 …