influence resident firms' capital structures and ownership structures. A broader perspective on corporate performance suggests …

We study the effects of money (anticipated inflation) on capital formation. Previous papers on this topic adopt reduced …

We introduce adaptive learning behavior into a general equilibrium lifecycle economy with capital accumulation. Agents … form forecasts of the rate of return to capital assets using least squares autoregressions on past data. We show that, in … persistent excess volatility in returns to capital. We explore a quantitative case for these learning equilibria. We use an …

The standard measures of nominal capital formation show the United States investing a proportion of GDP much lower than … have been coming closer and closer to those of the other countries. A broader measure of capital formation, more consonant … investing an above average share of total output in the most recent period 1990-1994. Real capital formation per capita and per …

that can be used to produce government capital. For a reasonable calibration, we find that government spending increases in … larger the costs that the economy faces to reallocate resources (capital and labor) across sectors, the smaller the optimal …

additional form of capital spending-that of improvements. The analysis examines a unique long-run data set on Swiss road spending. …