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Durability of Inputs and Outputs : Who Is Riskier?

Durables goods can be used for consumption services, but also as equipment for production. The literature has documents that durable good producers have higher expected returns, while investment good producers lower risk premiums. I resolve this seemingly conflicting evidence by suggesting that the durable category of final demand is too crude. Using input-output tables, I can split durable producers into upstream and downstream firms. Upstream durable producers have higher expected returns while downstream durable good producers lower, in-line with recent evidence
Year of publication:
[2023]
Authors: Deng, Larry
Publisher: [S.l.] : SSRN
Subject: Theorie | Theory | Dauerhafte Konsumgüter | Durable goods
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