| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8569 |
| DP8569 Learning From Stock Prices and Economic Growth | |
| Joel PERESS | |
| 发表日期 | 2011-09-01 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | A competitive stock market is embedded into a neoclassical growth economy to analyze the interplay between the acquisition of information about firms, its partial revelation through stock prices, capital allocation and income. The stock market allows investors to share their costly private signals in a cost-effective incentive-compatible way. It contributes to economic growth by raising total factor productivity, but its impact is only transitory. Several predictions on the evolution of real and financial variables are derived, including capital efficiency, total factor productivity, industrial specialization, wealth inequality, stock trading intensity, liquidity and return volatility. |
| 主题 | Financial Economics ; International Macroeconomics |
| 关键词 | Growth Financial development stock market Capital allocation Learning Asymmetric information Noisy rational expectations equilibrium |
| URL | https://cepr.org/publications/dp8569 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/537406 |
| 推荐引用方式 GB/T 7714 | Joel PERESS. DP8569 Learning From Stock Prices and Economic Growth. 2011. |
| 条目包含的文件 | 条目无相关文件。 | |||||
| 个性服务 |
| 推荐该条目 |
| 保存到收藏夹 |
| 导出为Endnote文件 |
| 谷歌学术 |
| 谷歌学术中相似的文章 |
| [Joel PERESS]的文章 |
| 百度学术 |
| 百度学术中相似的文章 |
| [Joel PERESS]的文章 |
| 必应学术 |
| 必应学术中相似的文章 |
| [Joel PERESS]的文章 |
| 相关权益政策 |
| 暂无数据 |
| 收藏/分享 |
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
