Left Behind: Creative Destruction, Inequality, and the Stock Market
We develop a general equilibrium model of asset prices in which benefits of technological innovation are distributed asymmetrically. Financial market participants do not capture all economic gains from innovation even when they own shares in innovating firms. Such gains accrue partly to the innovato...
| Main Authors: | , , |
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| Other Authors: | |
| Format: | Article |
| Language: | English |
| Published: |
University of Chicago Press
2021
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| Online Access: | https://hdl.handle.net/1721.1/130433 |