๐”– Bobbio Scriptorium
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Human Capital and Stock Returns: Is the Value Premium an Approximation for Return on Human Capital?

โœ Scribed by Bo Hansson


Book ID
110751249
Publisher
John Wiley and Sons
Year
2004
Tongue
English
Weight
131 KB
Volume
31
Category
Article
ISSN
0306-686X

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We examine the e!ects of human capital on consumption, stock market, and other #uctuations in a general equilibrium continuous-time model. A representative con-sumer}worker}investor derives utility from consumption and leisure. A representative "rm demands labor as the sole input to a stochastic pro