Important.
The rate of return on capital plays a pivotal role in shaping current macroeconomic debates. This column presents findings from a new dataset covering returns of major asset classes in the advanced economies over the last 150 years. The data offer new insights on several long-standing puzzles in economics, and uncover new relationships that seem at odds with some fundamental economic tenets.
VOX - CEPR's Policy Portal
The rate of return on everything
Òscar Jordà, Katharina Knoll, Dmitry Kuvshinov, Moritz Schularick, Alan Taylor 02 January 2018
Òscar Jordà, Katharina Knoll, Dmitry Kuvshinov, Moritz Schularick, Alan Taylor 02 January 2018
Here is the link to the paper if you wish to pursue it further.
Here is the open-source database.
See also
Economists have provided detailed analyses of the economic basis of international currency status, but they have paid less attention to the geopolitical underpinnings. This column sheds light on the geopolitical premium enjoyed by the US thanks to its security alliances and ‘dollar diplomacy’.Mars or Mercury? The geopolitics of international currency choice
Barry Eichengreen, Arnaud Mehl, Livia Chiţu
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