Seminario WiP Seminar: Fabio Franceschini
7 aprile 2022
Title: "Risky Innovation".
- 13:00 - 14:00
- In presenza : Seminar Room - Piazza Scaravilli, 2 + Microsoft Teams Meeting
- In italiano e inglese
Programma
Abstract
Cointegration between aggregate US R&D investment and Total Factor Productivity (TFP) provides an R&D intensity measure that allows to study the aggregate R&D risk-reward frontier. This measure proves being a relevant state variable to financial markets, showing forecasting power with respect to the US market excess return and the equity term premium.