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Technological Growth and Asset Pricing

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NBER2009-09-01 更新2025-01-04 收录
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https://www.nber.org/papers/w15340
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In this paper we study the implications of general-purpose technological growth for asset prices. The model features two types of shocks: "small", frequent, and disembodied shocks to productivity and "large" technological innovations, which are embodied into new vintages of the capital stock. While
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2009-09-01
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