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Capital Mobility and Asset Pricing

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NBER2011-08-01 更新2025-01-04 收录
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https://www.nber.org/papers/w17296
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We present a model for the equilibrium movement of capital between asset markets that are distinguished only by the levels of capital invested in each. Investment in that market with the greatest amount of capital earns the lowest risk premium. Intermediaries optimally trade off the costs of
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2011-08-01
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