IDEAS home Printed from https://ideas.repec.org/p/fsu/wpaper/1998_05_02.html
   My bibliography  Save this paper

Uncertain Labor Quality and Asset Pricing

Author

Listed:
  • Einarsson, T.
  • Marquis, M.H.

Abstract

A production-based asset pricing model is developed in which growth is sustained through investment in human capital, which itself obsolesces over time. The model is used to examine the effects on the business cycle properties of asset returns fo decisions to invest in physical capital when the rate of obsolescence of human capital is stochastic and unobserved as the time of investment.

Suggested Citation

  • Einarsson, T. & Marquis, M.H., 1998. "Uncertain Labor Quality and Asset Pricing," Working Papers 1998_05_02, Department of Economics, Florida State University.
  • Handle: RePEc:fsu:wpaper:1998_05_02
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    Keywords

    ECONOMIC GROWTH ; INVESTMENTS ; LABOUR MARKET;

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fsu:wpaper:1998_05_02. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Dmitry Ryvkin). General contact details of provider: http://edirc.repec.org/data/defsuus.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.