2000 character limit reached
Information, Impact, Ignorance, Illegality, Investing, and Inequality (1612.06855v3)
Published 25 Oct 2016 in q-fin.EC and q-fin.TR
Abstract: We note a simple mechanism that may at least partially resolve several outstanding economic puzzles, including why the cyclically adjusted price to earnings ratio of the S&P 500 index has been oddly high for the past two decades, why gains to capital have outpaced gains to wages, and the persistence of the equity premium.
Paper Prompts
Sign up for free to create and run prompts on this paper using GPT-5.
Top Community Prompts
Collections
Sign up for free to add this paper to one or more collections.