heterogeneous agents, human capital investment and capital-skill complementarity. It shows that increasing funding in the long …-run delivers higher physical and human capital and therefore higher output, but also higher wage and income inequality. The latter …

-biased technology shocks have no effect on the relative price of investment, suggesting that capital and skill are not complementary in …

In an overlapping generations model, rents to human capital play a key role in increasing savings. In the absence of … such rents, the return to human capital is entirely appropriated by the old and accumulation is entirely determined by the … income to fixed factors. If rents are introduced by setting a ceiling on human capital accumulation, the economy may achieve …

For the sample period of 1965-1992, Kortum and Lerner (2000) find that venture capital (VC) investments have a positive …

. These countries place few restrictions on capital mobility and allow their exchange rates to float. The domestic focus of … volatility and less frequent “sudden stops” of capital flows than similar countries that do not target inflation. Inflation …

recovery (itself driven by changes in capital policies since the world wars) and by the slowdown of productivity and population …-income ratio β is about 300% if g= 3% and 600% if g= 1.5%. Our results have important implications for capital taxation and … regulation and shed new light on the changing nature of wealth, the shape of the production function, and the rise of capital …

Does it always pay to install high-quality capital? Or could it possibly be more profitable to make investments that do … not last too long? In this Paper we ponder the optimal rate of depreciation of physical capital, first in the Solow model … investment – is equal to the marginal cost, which is the additional cost of investing due to the higher quality of capital. The …

This paper analyzes financial institutions' capital allocation decisions when their required equity capital depends on … can be delegated through an economic value added (EVA) compensation contract and solve for the optimal capital allocation … precisely the notion of risk-adjusted return on capital (RAROC) and how it can be used as a performance measure. …