| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w28988 |
| 来源ID | Working Paper 28988 |
| Rents and Intangible Capital: A Q+ Framework | |
| Nicolas Crouzet; Janice C. Eberly | |
| 发表日期 | 2021-07-05 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | In recent years, US investment has been lackluster, despite rising valuations. Key explanations include growing rents and growing intangibles. We propose and estimate a framework to quantify their roles. The gap between valuations — reflected in average Q — and investment — reflected in marginal q — can be decomposed into three terms: the value of installed intangibles; rents generated by physical capital; and an interaction term, measuring rents generated by intangibles. The intangible-related terms contribute significantly to the gap, particularly in fast-growing sectors. Our findings suggest care in a pure-rents interpretation, given the rising role of intangibles. |
| 主题 | Microeconomics ; Households and Firms ; Market Structure and Distribution ; Macroeconomics ; Consumption and Investment ; Financial Economics ; Corporate Finance |
| URL | https://www.nber.org/papers/w28988 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/586662 |
| 推荐引用方式 GB/T 7714 | Nicolas Crouzet,Janice C. Eberly. Rents and Intangible Capital: A Q+ Framework. 2021. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w28988.pdf（1783KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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