Technological Diffusion and Asset Prices
AbstractIn this paper we demonstrate that the gradual diffusion of technology causes the stock market to exhibit a cyclical behavior. More importantly, we attribute sharp declines and increases in the stock market such as the ones that occurred in the early 1970s and mid 1990s in the United States to expected rapid technological diffusion.
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Bibliographic InfoPaper provided by College of Business, University of Texas at San Antonio in its series Working Papers with number 0002.
Length: 12 pages
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Stock Market; Asset Prices; Technological Diffusion;
Find related papers by JEL classification:
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
- G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
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