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Can optimism about technology stocks be good for welfare? Positive spillovers vs. equity market losses
- 1.0330715 - NHU-C 2010 RIV CZ eng J - Journal Article
Tinn, K. - Vourvachaki, Evangelia
Can optimism about technology stocks be good for welfare? Positive spillovers vs. equity market losses.
CERGE-EI Working Paper Series. -, č. 383 (2009), s. 1-51. ISSN 1211-3298
Institutional research plan: CEZ:MSM0021620846
Keywords : equity mispricing * R&D growth * welfare
Subject RIV: AH - Economics
http://www.cerge-ei.cz/pdf/wp/Wp383.pdf
This paper analyzes the impact of equity market information imperfections on R&D driven growth. It paper shows that optimism in equity market can generate long-run consumption gains, despite the excess capital losses realized in the short-run.
Permanent Link: http://hdl.handle.net/11104/0176433
File Download Size Commentary Version Access Wp383.pdf 0 591.3 KB Publisher’s postprint open-access
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