Listar ECO_Articles por autoría "52d53ea0-69a6-4e55-9c14-7f2db37e9e5d"
Mostrando ítems 1-3 de 3
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Exploiting ergodicity in forecasts of corporate profitability
Mundt, Philipp; Alfarano, Simone; Milakovic, Mishael Elsevier (2019-12-13)Theory suggests that competition tends to equalize profit rates through the process of capital reallocation, and numerous studies have confirmed that profit rates are indeed persistent and mean-reverting. Recent empirical ... -
Gibrat's Law Redux: think profitability instead of growth
Mundt, Philipp; Alfarano, Simone; Milakovic, Mishael Oxford University Press (OUP) (2015)We argue that firm profitability can be conveniently characterized by one and the same diffusion process for all firms, akin to Gibrat’s seminal idea of a common stochastic description for the dynamics of firm growth. Here ... -
The Real Versus the Financial Economy: A Global Tale of Stability Versus Volatility
Mundt, Philipp; Förster, Niels; Alfarano, Simone; Milakovic, Mishael Dennis J. Snower (2014)The question how the real and the financial side of a capitalist economy relate to each other has been a frequently recurring topic in the history of economic thought. Our paper addresses this question from the viewpoint ...