investment. Exploiting the separation of announcement and payment at the daily frequency, we find dividends in particular … estimate an asset demand elasticity of 1.25 and document a releveraging market feedback effect on investment, where firms …

of a real business cycle model with investment adjustment costs. The study shows that the behavior of consumption and …

effects, the tax rate is positively related to aggregate productivity and negatively related to the equity risk premium. Both … income inequality and stock prices initially increase but eventually decrease with the tax rate. Investment risk, stock …

-averse, on average. Through these selection effects, the tax rate is positively related to aggregate productivity and negatively … eventually decrease with the tax rate. Investment risk, stock market participation, and skill heterogeneity all contribute to …

effects, the tax rate is positively related to aggregate productivity and negatively related to the equity risk premium. Both … income inequality and stock prices initially increase but eventually decrease with the tax rate. Investment risk, stock …

-averse, on average. Through these selection effects, the tax rate is positively related to aggregate productivity and negatively … eventually decrease with the tax rate. Investment risk, stock market participation, and skill heterogeneity all contribute to …