The stock market and capital accumulation

Article Abstract:

The value of a firm's securities measures the value of the firm's productive assets. If the assets include only capital goods and not a permanent monopoly franchise, the value of the securities measures the value of the capital. Finally, if the price of the capital can be measured or inferred, the quantity of capital is the value divided by the price. A standard model of adjustment costs enables the inference of the price of installed capital. Data from U.S. corporations over the past 50 years imply that corporations have formed large amounts of intangible capital, especially in the past decade. (JEL E44, G12)

United States, Corporate Profits, Statistical Data Included, Finance, History, Profits, Stock-exchange, Stock exchanges, Statistics, Capital assets, Corporations, Intangible property, Intangible assets, Corporate finance, Capital formation

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Levels of economic activity across countries

Article Abstract:

Empirical research on economic growth is used to examine the levels of economic development across countries. The study makes good use of available data and concentrates on the level of output per worker. The variations in the levels of economic growth across countries are influenced by government policies or infrastructure. These create the economic environment where people work, transact, learn skills and invent. Countries that support production through solid physical and intellectual property rights are successful.

Economic Programs, Administration of Economic Programs, Research, Infrastructure (Economics), Economic policy, Economic research, Economic development

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Employment fluctuations with equilibrium wage stickiness

Article Abstract:

The effect of recession on labor markets and wages is examined. A model analyzing the correlation between employment and wages during the recession period is also presented.

Employment, Forecasts, trends, outlooks, Administration of General Economic Programs, California, Jobs & Employment, Usage, Forecasts and trends, Market trend/market analysis, Labor market, Recessions, Labor costs, Econometric models, Labour market, Labour costs

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