| 查看: 272 | 回复: 0 | ||
| 【悬赏金币】回答本帖问题，作者534539645将赠送您 5 个金币 | ||
534539645铁虫 (正式写手)
|
[求助]
求助一篇文献
|
|
|
题名: Technological Revolutions and Stock Prices 作者/编者: Pástor, Llubos ; Veronesi, Pietro 主题: United States–Us ; Studies ; Equilibrium ; Stock Prices ; Economic Models ; Technological Change ; Uncertainty ; Experiment/Theoretical Treatment ; Economic Theory ; Investment Analysis & Personal Finance ; United States 标识符: ISSN: 00028282 ; DOI: 10.1257/aer.99.4.1451 丛书名/收录于: The American Economic Review, Sep 2009, Vol.99(4), pp.1451-1483 简介: We develop a general equilibrium model in which stock prices of innovative firms exhibit "bubbles" during technological revolutions. In the model, the average productivity of a new technology is uncertain and subject to learning. During technological revolutions, the nature of this uncertainty changes from idiosyncratic to systematic. The resulting bubbles in stock prices are observable ex post but unpredictable ex ante, and they are most pronounced for technologies characterized by high uncertainty and fast adoption. We find empirical support for the model's predictions in 1830-1861 and 1992-2005 when the railroad and Internet technologies spread in the United States. |
回复此楼» 猜你喜欢
有多少人是今天查系统知道结果的？
已经有17人回复
-
售SCI一区T0P文章，我:8.O.55.1.O.54,科目齐全,可+急
已经有4人回复
-
基金不中，共勉
已经有5人回复
-
看板上这么多中的，有点像50人群里49个人都是骗子的那种感觉……
已经有3人回复
-
国自然面上复盘~欢迎讨论
已经有5人回复
-
我不理解！
已经有23人回复
-
2026年的国家社科基金项目通讯评审的新规则与新动向、新挑战
已经有10人回复
-
系统查不到
已经有10人回复
-
怎么查啊
已经有5人回复
-
范进中举一文的中心思想
已经有10人回复
投票:
