In this research we model and estimate the effects on productivity downstream from information technology (IT) investments made upstream. Specifically, we examine how one industry's productivity is affected by the IT capital stock of its suppliers. These supplier-driven IT spillovers occur...

We investigate an asset pricing model with preferences cycling between high risk aversion and low EIS in fall/winter and the reverse in spring/summer. Calibrating to consumption data and allowing plausible preference parameter values, we produce returns that match observed equity and Treasury...

We investigate an asset pricing model with preferences cycling between high risk aversion and low EIS in fall/winter and the reverse in spring/summer. Calibrating to consumption data and allowing plausible preference parameter values, we produce returns that match observed equity and Treasury...