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Macroeconomics: Consumption, Saving, Production, Employment, and Investment x Intertemporal Choice and Growth x clear all

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Anomalies

Erica X. N. Li, Dmitry Livdan and Lu Zhang.

in The Review of Financial Studies

November 2009; p ublished online April 2009 .

Journal Article. Subjects: Production and Organizations; Intertemporal Choice and Growth; Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Money and Interest Rates; Economics; Corporate Governance. 14635 words.

We take a simple q-theory model and ask how well it can explain external financing anomalies, both qualitatively and quantitatively. Our central insight is that optimal investment is an...

Corporate Real Estate Holdings and the Cross-Section of Stock Returns

Selale Tuzel.

in The Review of Financial Studies

June 2010; p ublished online March 2010 .

Journal Article. Subjects: Production and Organizations; Intertemporal Choice and Growth; Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Money and Interest Rates; Economics; Housing Markets, Production Analysis, and Business Location. 15162 words.

This article explores the link between the composition of firms’ capital and stock returns. I develop a general equilibrium production economy where firms use two factors: real estate and...

Customer Capital

François Gourio and Leena Rudanko.

in The Review of Economic Studies

July 2014; p ublished online March 2014 .

Journal Article. Subjects: Information, Knowledge, and Uncertainy; Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Intertemporal Choice and Growth; Market Structure, Firm Strategy, and Market Performance. 15250 words.

Firms spend substantial resources on marketing and selling. Interpreting this as evidence of frictions in product markets, which require firms to spend resources on customer acquisition,...

Distributional Comparative Statics

Martin Kaae Jensen.

in The Review of Economic Studies

January 2018; p ublished online May 2017 .

Journal Article. Subjects: Mathematical Methods; Programming Methods; Mathematical and Simulation Modelling; Information, Knowledge, and Uncertainy; Intertemporal Choice and Growth; Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Welfare and Poverty. 17192 words.

Abstract

Distributional comparative statics is the study of how individual decisions and equilibrium outcomes vary with changes in the distribution of economic...

The Effects of Marital Status and Children on Savings and Portfolio Choice

David A. Love.

in The Review of Financial Studies

January 2010; p ublished online April 2009 .

Journal Article. Subjects: Economics; Insurance; Intertemporal Choice and Growth; Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Economics of Health; Demographic Economics. 23993 words.

This paper investigates the impact of demographic shocks on optimal decisions about saving, life insurance, and, most centrally, asset allocation. The analysis indicates that marital-status...

Estimation Risk, Information, and the Conditional CAPM: Theory and Evidence

Praveen Kumar, Sorin M. Sorescu, Rodney D. Boehme and Bartley R. Danielsen.

in The Review of Financial Studies

May 2008; p ublished online March 2008 .

Journal Article. Subjects: Information, Knowledge, and Uncertainy; Intertemporal Choice and Growth; Macroeconomics: Consumption, Saving, Production, Employment, and Investment. 18792 words.

We theoretically and empirically investigate the role of information on the cross section of stock returns and firms' cost of capital when investors face estimation risk and learn from...

Guidelines for exploiting natural resource wealth

Rick van der Ploeg.

in Oxford Review of Economic Policy

January 2014; p ublished online May 2014 .

Journal Article. Subjects: Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Intertemporal Choice and Growth; Non-renewable Resources and Conservation. 14457 words.

The principles of how best to manage the various components of national wealth are outlined, where the permanent income hypothesis, the Hotelling rule, and the Hartwick rule play a...

House Prices and Consumer Spending

David Berger, Veronica Guerrieri, Guido Lorenzoni and Joseph Vavra.

in The Review of Economic Studies

July 2018; p ublished online October 2017 .

Journal Article. Subjects: Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Prices, Business Fluctuations, and Cycles; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Household Behaviour and Family Economics; Intertemporal Choice and Growth; Household Analysis. 19460 words.

Abstract

Recent empirical work shows large consumption responses to house price movements. This is at odds with a prominent theoretical view which, using the...

Leasing, Ability to Repossess, and Debt Capacity

Andrea L. Eisfeldt and Adriano A. Rampini.

in The Review of Financial Studies

April 2009; p ublished online March 2008 .

Journal Article. Subjects: Production and Organizations; Intertemporal Choice and Growth; Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Corporate Governance; Bankruptcy. 18522 words.

This paper studies the financing role of leasing and secured lending. We argue that the benefit of leasing is that repossession of a leased asset is easier than foreclosure on the...

Lifestyle conformity and lifecycle saving: a Veblenian perspective

Martha A. Starr.

in Cambridge Journal of Economics

January 2009; p ublished online July 2008 .

Journal Article. Subjects: Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Intertemporal Choice and Growth; Economic Methodology; History of Economic Thought (to 1925). 11079 words.

Since the 1950s, the lifecycle hypothesis has been the dominant explanation for the ‘inverse U’ in household wealth accumulation. This paper advances an alternative explanation, rooted in...

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