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This paper answers fundamental questions that have preoccupied modern economic thought since the 18th century. What is the aggregate real rate of return in the economy? Is it higher than the growth rate of the economy and, if so, by how much? Is there a tendency for returns to fall in the...
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/implications – The method is applied for a single dividend payment, but can be extended for several payments. The exact amount of the …
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findings are based on naïve dividend changes and not unexpected change dividends. Originality/value – This paper offers some …
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