Uncertainty-induced Reallocations, Innovation and Growth

Focusing on both micro and aggregate U.S. data, we document the existence of a significant link between aggregate uncertainty, capital market valuations and reallocation of resources away from risky R&D-intensive capital.

Who

Mariano Massimiliano Croce (Bocconi University)

Where

via Zoom

Personal details

The research of finance professor Mariano Massimiliano Croce focuses on asset pricing in general equilibrium models in which there is uncertainty about the long horizon perspectives of the economy (growth news shocks).