{"id":"https://openalex.org/W2012434002","doi":"https://doi.org/10.2307/134089","title":"Some Macroeconomic Consequences of Corporate Equities","display_name":"Some Macroeconomic Consequences of Corporate Equities","publication_year":1973,"publication_date":"1973-11-01","ids":{"openalex":"https://openalex.org/W2012434002","doi":"https://doi.org/10.2307/134089","mag":"2012434002"},"language":"en","primary_location":{"id":"doi:10.2307/134089","doi":"https://doi.org/10.2307/134089","is_oa":false,"landing_page_url":"https://doi.org/10.2307/134089","pdf_url":null,"source":{"id":"https://openalex.org/S76440981","display_name":"Canadian Journal of Economics/Revue canadienne d \u00e9conomique","issn_l":"0008-4085","issn":["0008-4085","1540-5982"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","jufo-1","norway-1","poland-70","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Canadian Journal of Economics","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5082345836","display_name":"Basil John Moore","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Basil J. Moore","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5082345836"],"corresponding_institution_ids":[],"apc_list":{"value":3120,"currency":"USD","value_usd":3120},"apc_paid":null,"fwci":0.0,"has_fulltext":false,"cited_by_count":16,"citation_normalized_percentile":{"value":0.29447633,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":89,"max":97},"biblio":{"volume":"6","issue":"4","first_page":"529","last_page":"529"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11742","display_name":"Economic Theory and Policy","score":0.423799991607666,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11742","display_name":"Economic Theory and Policy","score":0.423799991607666,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.3075999915599823,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.09200000017881393,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/capital-gains","display_name":"capital gains","score":0.5879999995231628},{"id":"https://openalex.org/keywords/corporate-equity","display_name":"corporate equity","score":0.7760000228881836},{"id":"https://openalex.org/keywords/saving-behavior","display_name":"saving behavior","score":0.5339999794960022},{"id":"https://openalex.org/keywords/investment-behavior","display_name":"investment behavior","score":0.9330000281333923},{"id":"https://openalex.org/keywords/retained-earnings","display_name":"retained earnings","score":0.847000002861023},{"id":"https://openalex.org/keywords/valuation-ratios","display_name":"valuation ratios","score":0.9430000185966492},{"id":"https://openalex.org/keywords/household-savings","display_name":"household savings","score":0.4410000145435333},{"id":"https://openalex.org/keywords/consumption","display_name":"consumption","score":0.47099998593330383},{"id":"https://openalex.org/keywords/corporate-investment","display_name":"corporate investment","score":0.6539999842643738},{"id":"https://openalex.org/keywords/capital-output-ratio","display_name":"capital-output ratio","score":0.7289999723434448},{"id":"https://openalex.org/keywords/financing-costs","display_name":"financing costs","score":0.5899999737739563},{"id":"https://openalex.org/keywords/business-cycles","display_name":"business cycles","score":0.328000009059906},{"id":"https://openalex.org/keywords/macroeconomic-models","display_name":"macroeconomic models","score":0.45399999618530273},{"id":"https://openalex.org/keywords/real-assets","display_name":"real assets","score":0.4359999895095825}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5817428827285767},{"id":"https://openalex.org/C549774020","wikidata":"https://www.wikidata.org/wiki/Q851147","display_name":"Welfare economics","level":1,"score":0.515961229801178},{"id":"https://openalex.org/C186027771","wikidata":"https://www.wikidata.org/wiki/Q4008379","display_name":"Valuation (finance)","level":2,"score":0.43497782945632935},{"id":"https://openalex.org/C15708023","wikidata":"https://www.wikidata.org/wiki/Q80083","display_name":"Humanities","level":1,"score":0.3353397846221924},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.14149531722068787},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.2307/134089","doi":"https://doi.org/10.2307/134089","is_oa":false,"landing_page_url":"https://doi.org/10.2307/134089","pdf_url":null,"source":{"id":"https://openalex.org/S76440981","display_name":"Canadian Journal of Economics/Revue canadienne d \u00e9conomique","issn_l":"0008-4085","issn":["0008-4085","1540-5982"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","jufo-1","norway-1","poland-70","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Canadian Journal of Economics","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:cje:issued:v:6:y:1973:i:4:p:529-44","doi":null,"is_oa":false,"landing_page_url":"http://links.jstor.org/sici?sici=0008-4085%28197311%296%3A4%3C529%3ASMCOCE%3E2.0.CO%3B2-R","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[],"sustainable_development_goals_aurora":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":2,"referenced_works":["https://openalex.org/W2013881852","https://openalex.org/W2018579465"],"related_works":["https://openalex.org/W2345070990","https://openalex.org/W3148368000","https://openalex.org/W2408511486","https://openalex.org/W2924296320","https://openalex.org/W3124488263","https://openalex.org/W144495934","https://openalex.org/W7134726374","https://openalex.org/W755074830","https://openalex.org/W2575421535","https://openalex.org/W142970361"],"abstract_inverted_index":{"Some":[0],"Macroeconomic":[1],"Consequences":[2],"of":[3,8,11,35,48,52,61,91,99],"Corporate":[4],"Equities.":[5],"An":[6],"exploration":[7],"the":[9,33,41,46,49,58,71],"significance":[10,90],"equities":[12],"and":[13,19,40,80,103],"capital":[14,83,100,132,157,256,479],"gain":[15,101],"income":[16,102],"for":[17,85],"saving":[18,96],"investment":[20,105],"behaviour.":[21],"Capital":[22],"gains":[23,84,130,155,254,459,492],"received":[24],"by":[25,78],"shareholders":[26],"are":[27,67],"shown":[28,68],"to":[29,32,55,57,69,73,109],"be":[30],"related":[31],"volume":[34,166],"corporate":[36,62,104],"retentions,":[37],"new":[38],"issues,":[39],"valuation":[42],"ratio,":[43],"defined":[44],"as":[45],"ratio":[47],"market":[50,59],"value":[51,60],"ownership":[53],"claims":[54],"corporations":[56],"real":[63],"assets.":[64],"Share":[65],"owners":[66],"have":[70],"ability":[72],"undo":[74],"business":[75],"retained":[76],"earnings,":[77],"realizing":[79],"spending":[81],"their":[82],"current":[86],"consumption.":[87],"The":[88],"empirical":[89],"this":[92],"effect":[93],"depends":[94],"on":[95],"preferences":[97],"out":[98],"behaviour":[106],"with":[107],"respect":[108],"share":[110],"values.":[111],"Quelques":[112],"consequences":[113],"macroeconomiques":[114],"des":[115,167,171,188,195,198,293,302,324,333,335,376,386,393,428,447,470,491,501,513],"actions.":[116,514],"L'article":[117],"represente":[118],"un":[119,147,400],"premier":[120],"examen":[121],"de":[122,129,131,156,177,230,241,253,255,284,295,320,340,391,418,441,460,476,481,493,496,499],"l'effet":[123],"du":[124,165,175,186,193,260,291,364,478,488,505],"revenue":[125],"provenant":[126,209,490],"d'actions":[127,162,250,437],"et":[128,139,174,244,251,286,317,327,348,352,451,495],"sur":[133,217,345,361],"le":[134,181,282,314,318,322,328,349,362,374,382,416,426,474],"comportement":[135,401],"relatif":[136],"'a":[137,140,146,267,271,379,402,406,422,484],"1'epargne":[138],"l'investissement.":[141],"Les":[142,331,369,396],"actions":[143,189,336,377,387,429],"sont":[144,163,467],"incorporees":[145],"modele":[148],"macroeconomique":[149],"simple.":[150],"L'auteur":[151,273,432],"montre":[152,274,305,433],"que":[153,297,381,408,434],"les":[154,160,237,247,298,367,435,443,468,511],"obtenus":[158],"par":[159,236,246,342,358],"detenteurs":[161,436],"fonction":[164],"profits":[168,299,444],"non":[169,300,445],"distribues,":[170],"nouvelles":[172,325],"emissions,":[173,326],"rapport":[176,182,283,316,329,417],"valorisation,":[178],"defini":[179],"comme":[180,258],"entre":[183,281,313],"la":[184,191,218,222,268,287,338,346,355,403,439,455,482,497],"valeur":[185,192],"marche":[187,194],"et-":[190],"actifs":[196],"reels":[197],"corporations,":[199],"suivant":[200,464],"une":[201,213,233,278,310],"relation":[202,279,311],"qui":[203,372,398,472],"est":[204,420,430],"definie":[205],"dans":[206,221,510],"l'article.":[207],"L'epargne":[208],"d'une":[210],"entreprise":[211],"a":[212,232,277,309,454,486],"influence":[214,344],"potentielle":[215],"expansionniste":[216],"depense":[219,339,356],"totale,":[220],"mesure":[223,463],"oiu":[224],"elle":[225],"peut":[226],"servir":[227],"deux":[228],"fois":[229],"base":[231],"depense.":[234],"D'abord":[235],"entreprises":[238,397,448,502],"pour":[239,366],"l'achat":[240],"biens":[242],"d'equipement,":[243],"ensuite":[245],"menages":[248,294],"detentures":[249],"beneficiaires":[252],"qui,":[257],"composantes":[259],"revenu":[261,350,489],"global,":[262,351],"peuvent":[263],"etre":[264],"consacres":[265],"soit":[266,270],"consommation":[269,341],"1'epargne.":[272],"qu'il":[275,307],"y":[276,308],"positive":[280],"valorisation":[285,419],"propension":[288,483],"'":[289],"epargner":[290,485],"secteur":[292],"meme":[296,315],"distribues":[301,446],"corporations.":[303,368],"I1":[304],"aussi":[306],"negative":[312],"taux":[319,383,390],"croissance,":[321],"rythme":[323,410,475],"capital-output.":[330],"changements":[332,504],"valeurs":[334,512],"affectent":[337,354],"leur":[343,359,409],"richesse":[347],"ils":[353],"d'investissement":[357,411],"effet":[360],"co?ut":[363],"financement":[365,508],"directions":[370],"d'entreprises":[371],"maximisent":[373],"prix":[375,427],"cherchent":[378,405],"ce":[380,407,466],"d'escompte":[384],"estime":[385],"corresponde":[388,412],"au":[389,413],"rendement":[392],"projets":[394],"d'investissement.":[395],"ont":[399,438],"Fisher":[404],"point":[414],"o'u":[415],"egal":[421],"1,":[423],"l'endroit":[424],"oju":[425],"maximise.":[431],"capacite":[440],"s'approprier":[442],"en":[449,452],"realisant":[450],"consacrant":[453],"consonimation":[456],"courante":[457],"leurs":[458],"capital.":[461],"La":[462],"laquelle":[465],"pr6ferences":[469],"epargnants":[471],"expliquent":[473],"formation":[477],"depend":[480],"partir":[487],"capital,":[494],"sensibilite":[498],"l'investissement":[500],"aux":[503],"cou't":[506],"dii":[507],"refletes":[509]},"counts_by_year":[{"year":2024,"cited_by_count":1},{"year":2022,"cited_by_count":1},{"year":2020,"cited_by_count":1},{"year":2016,"cited_by_count":3},{"year":2012,"cited_by_count":1}],"updated_date":"2026-10-01T08:54:57.152042","created_date":"2016-06-24T00:00:00"}