In this small paper author makes some comments on the relation between Income Distribution and the Government Debt as a percentage of GDP. It is estimated through a panel data model that optimum Income Distribution takes place at a critical level of Government Debt as a percentage of GDP....

This paper extends the economic growth model tested by Levine and Zervos (1998) by including a measure for capital allocation efficiency proxied by stock price informativeness. Using a sample of 59 countries, this study finds that stock price informativeness as measured by firm-specific return...

Abstract One of the fundamental questions in finance is how to select an investment portfolio? The most popular model is the Mean-Variance (MV) model that was presented by Markowitz in 1952. In the MV model, the optimization problem is a constrained quadratic functional. An optimal portfolio...

This paper extends the output growth model tested by Levine and Zervos (1998) by including a measure for capital allocation efficiency proxied by stock price informativeness. Using a sample of 62 countries, this study finds that stock price informativeness as measured by firm-specific return...

In this paper we present the Ifo Investment Database, which provides annual investment data for 12 investment assets in 50 German industries from 1991 onward. The data is consistent with national accounts statistics provided by the German Federal Statistical Office and is based on investments in...

This paper extends the output growth model tested by Levine and Zervos (1998) by including a channel for capital allocation efficiency proxied by stock price informativeness. Using a sample of 59 countries, this study finds that stock price informativeness as measured by firm-specific return...

This paper extends the output growth model tested by Levine and Zervos (1998) by including a channel for capital allocation efficiency proxied by stock price informativeness. Using a sample of 59 countries, this study finds that stock price informativeness as measured by firm-specific return...

Previous literature has suggested that different mechanisms of transmission of exogenous oil shocks are responsible for the negative effects on the economic performances of oil exporting countries. This paper aims at providing further evidence on the role of sectoral reallocation between private...

An application of the Stokes' theorem is illustrated by solving the two state problem, with inequality constraints, of Dobell and Ho concerning the optimal investment of resources. Whenever applicable, the Stokes' theorem approach seems to be elegant and parsimonious

Many economic variables of interest exhibit a tendency to revert to predictable long-run levels. However, mean reverting processes are rarely used in investment models in the literature. In most models, geometric Brownian motion processes are used for tractability. In this paper, a firm's entry...