are relaxed, the empirical support for the CAPM is very strong. When human capital is also included in measuring wealth …

We construct a model where capital competes with fiat money as a medium of exchange, and we establish conditions on … fundamentals under which fiat money can be both valued and socially beneficial. When the socially efficient stock of capital is too … Rule, fiat money provides just enough liquidity so that agents choose to accumulate the same capital stock a social planner …

organization capital. Theory suggests that where plants are in the life cycle determines the size of the payments, or dividends …, plant owners receive from organization capital. These payments are compensation for the interest cost to plant owners of … payments plant owners receive from physical capital, net of new investment, and more than 40% of payments from all forms of …

Previous research has suggested that discrete and occasional plant-level capital adjustments have significant aggregate … equilibrium environment. Specifically, assuming nonconvex costs of capital adjustment, I derive generalized (S,s) adjustment rules …

investment wedge as a tax on investment is equivalent to representing this wedge as a tax on capital income as long as the …