Taxes, Regulations, and Asset Prices

Preprint OPEN
Ellen R. McGrattan; Edward C. Prescott;
(2001)
  • Subject:
    • jel: jel:G12 | jel:H30

U.S. stock prices have increased much faster than gross domestic product (GDP) in the postwar period. Between 1962 and 2000, corporate equity value relative to GDP nearly doubled. In this paper, we determine what standard growth theory says the equity value should be in... View more
  • References (5)

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