The present discussion paper investigates the market dynamics in the early phase of an industryś life cycle. The industry life cycle model is so widely accepted and its basic premises so taken for granted that it has become conventional wisdom in business. However, a number of facets of the...

Much of the macroeconomics literature dealing with wealth distribution has abstracted from modeling housing explicitly. This paper investigates the properties of the wealth distribution and the portfolio composition regarding housing and equity holdings and their relationship to macroeconomic...