This paper investigates how concentrated ownership of capital influences the pricing of risky assets in a production … concentrated ownership significantly magnifies the equity risk premium relative to an otherwise similar representative …-agent economy because the capital owners' consumption is more strongly linked to volatile dividends from equity. A temporary shock …

markets indicates that domestic agents may not be able to borrow in international capital markets to fully insure themselves …

Are countries with unregulated capital flows more vulnerable to currency crises? Efforts to answer this question … properly must control for "self selection" bias since countries with liberalized capital accounts may also have more sound … sample selection bias, countries with liberalized capital accounts experience a lower likelihood of currency crises. That is …

The 1998 Annual Capital Expenditure Survey (ACES) provides information on disaggregate investment across a wide range …

This paper explores the relationship between capital composition and productivity using a unique and remarkably … capital types, including computers, communications equipment, and software, are associated with current and subsequent years … exist for a number of key capital types. I also provide evidence of complementaries and substitutabilities among capital …

The standard argument for abstracting from capital accumulation in sticky-price macro models is based on their short …-run focus: over this horizon, capital does not move much. This argument is more problematic in the context of real exchange rate … (RER) dynamics, which are very persistent. In this paper we study RER dynamics in sticky-price models with capital …

This paper examines the quantitative relationship between the elasticity of capital-labor substitution and the … observation, together with other empirical evidence, indicates that the elasticity of capital-labor substitution in the U …

markets indicates that domestic agents may not be able to borrow in international capital markets to fully insure themselves …