Andrew B. Abel

University of Pennsylvania - Finance Department

Ronald A. Rosenfeld Professor of Finance

The Wharton School

3620 Locust Walk

Philadelphia, PA 19104

United States

http://finance.wharton.upenn.edu/~abel/

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

  • University of Pennsylvania - Finance Department

    • Email
    • Tel: 215-898-4801
    • Fax: 215-573-7244
SCHOLARLY PAPERS

49

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214

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1,387

Scholarly Papers (49)

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1.

An Exploration of the Effects of Pessimism and Doubt on Asset Returns

Downloads 238 (139,542)
Citation 4

An Exploration of the Effects of Pessimism and Doubt on Asset Returns

Rodney L. White Center for Financial Research Working Paper No. 20-00
Number of pages: 31 Posted: 12 Mar 2001
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 199 (165,220)
Citation 4

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An Exploration of the Effects of Pessimism and Doubt on Asset Returns

NBER Working Paper No. w8132
Number of pages: 30 Posted: 15 Feb 2001 Last Revised: 21 Oct 2010
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 39 (471,715)

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2.

The Effects of a Baby Boom on Stock Prices and Capital Accumulation in the Presence of Social Security

Downloads 223 (148,667)
Citation 54

The Effects of a Baby Boom on Stock Prices and Capital Accumulation in the Presence of Social Security

U of Penn, Law & Econ Research Paper No. 01-15
Number of pages: 32 Posted: 03 Oct 2001
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 194 (169,203)
Citation 18

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baby boom, social security, stock prices, Golden Rule

The Effects of a Baby Boom on Stock Prices and Capital Accumulation in the Presence of Social Security

NBER Working Paper No. w9210
Number of pages: 33 Posted: 20 Sep 2002 Last Revised: 29 Oct 2010
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 29 (522,812)
Citation 2

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3.

Will Bequests Attenuate the Predicted Meltdown in Stock Prices When Baby Boomers Retire?

Downloads 195 (168,558)
Citation 8

Will Bequests Attenuate the Predicted Meltdown in Stock Prices When Baby Boomers Retire?

Rodney L. White Center for Financial Research Working Paper No. 19-00
Number of pages: 19 Posted: 12 Mar 2001
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 126 (243,806)
Citation 9

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Will Bequests Attenuate the Predicted Meltdown in Stock Prices When Baby Boomers Retire?

NBER Working Paper No. w8131
Number of pages: 18 Posted: 15 Feb 2001 Last Revised: 21 Oct 2010
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 69 (362,212)

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4.

Assessing Dynamic Efficiency: Theory and Evidence

NBER Working Paper No. w2097
Number of pages: 41 Posted: 04 Apr 2004 Last Revised: 27 Sep 2010
Andrew B. Abel, N. Gregory Mankiw, Lawrence H. Summers and Richard J. Zeckhauser
University of Pennsylvania - Finance Department, Harvard University - Department of Economics, Harvard University and Harvard University - Harvard Kennedy School (HKS)
Downloads 173 (187,565)
Citation 21

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5.

Options, the Value of Capital, and Investment

Downloads 103 (280,812)
Citation 4

Options, the Value of Capital, and Investment

NBER Working Paper No. w5227
Number of pages: 43 Posted: 19 Jul 2000 Last Revised: 17 Mar 2008
Andrew B. Abel, Avinash Dixit, Janice C. Eberly and Robert S. Pindyck
University of Pennsylvania - Finance Department, Princeton University - Department of Economics, Northwestern University - Kellogg School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 103 (282,621)
Citation 4

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Options, the Value of Capital, and Investment

Rodney L. White Center for Financial Research Working Paper No. 15-95
Posted: 24 Aug 1998
Andrew B. Abel, Avinash Dixit, Janice C. Eberly and Robert S. Pindyck
University of Pennsylvania - Finance Department, Princeton University - Department of Economics, Northwestern University - Kellogg School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management

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6.

An Intertemporal Model of Saving and Investment

NBER Working Paper No. w0885
Number of pages: 39 Posted: 20 Dec 2001 Last Revised: 31 Dec 2001
Andrew B. Abel and Olivier J. Blanchard
University of Pennsylvania - Finance Department and National Bureau of Economic Research (NBER)
Downloads 97 (292,203)
Citation 1

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7.

Optimal Taxation When Consumers Have Benchmark Levels of Consumption

U of Penn, Law & Econ Research Paper No. 01-16
Number of pages: 36 Posted: 03 Oct 2001
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 97 (292,203)

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Benchmark level of consumption, social security, capital income tax

8.

A Unified Model of Investment Under Uncertainty

NBER Working Paper No. w4296
Number of pages: 27 Posted: 18 Oct 2000 Last Revised: 30 Sep 2010
Andrew B. Abel and Janice C. Eberly
University of Pennsylvania - Finance Department and Northwestern University - Kellogg School of Management
Downloads 89 (308,533)
Citation 50

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9.

The Present Value of Profits and Cyclical Movements in Investment

NBER Working Paper No. w1122
Number of pages: 53 Posted: 27 Dec 2001 Last Revised: 28 Jul 2010
Andrew B. Abel and Olivier J. Blanchard
University of Pennsylvania - Finance Department and National Bureau of Economic Research (NBER)
Downloads 75 (341,950)
Citation 9

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10.

Optimal Investment with Costly Reversibility

NBER Working Paper No. w5091
Number of pages: 54 Posted: 19 Jul 2000 Last Revised: 05 Apr 2008
Andrew B. Abel and Janice C. Eberly
University of Pennsylvania - Finance Department and Northwestern University - Kellogg School of Management
Downloads 67 (363,737)
Citation 13

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11.

Stock Prices Under Time-Varying Dividend Risk: an Exact Solution in an Infinite-Horizon General Equilibrium Model

NBER Working Paper No. w2621
Number of pages: 30 Posted: 04 Jul 2004 Last Revised: 01 Sep 2010
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 59 (387,877)
Citation 4

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12.

An Integrated View of Tests of Rationality, Market Efficiency, and the Short-Run Neutrality of Monetary Policy

NBER Working Paper No. w0726
Number of pages: 42 Posted: 10 Nov 2002 Last Revised: 28 Jun 2010
Andrew B. Abel and Frederic S. Mishkin
University of Pennsylvania - Finance Department and Columbia Business School - Finance and Economics
Downloads 58 (391,050)

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13.

Asset Prices Under Habit Formation and Catching Up with the Joneses

NBER Working Paper No. w3279
Number of pages: 20 Posted: 28 Dec 2006 Last Revised: 15 Jan 2009
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 54 (404,496)
Citation 1

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14.

Consumption and Investment

NBER Working Paper No. w2580
Number of pages: 66 Posted: 26 Jul 2010
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 49 (422,051)

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15.

Optimal Inattention to the Stock Market with Information Costs and Transactions Costs

NBER Working Paper No. w15010
Number of pages: 41 Posted: 01 Jun 2009 Last Revised: 08 Jul 2010
Andrew B. Abel, Janice C. Eberly and Stavros Panageas
University of Pennsylvania - Finance Department, Northwestern University - Kellogg School of Management and University of California, Los Angeles (UCLA) - Finance Area
Downloads 48 (425,737)
Citation 22

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16.

Investment and Sales: Some Empirical Evidence

NBER Working Paper No. w2050
Number of pages: 41 Posted: 08 Jun 2004 Last Revised: 10 Aug 2010
Andrew B. Abel and Olivier J. Blanchard
University of Pennsylvania - Finance Department and National Bureau of Economic Research (NBER)
Downloads 48 (425,737)

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17.

Dynamic Behavior of Capital Accumulation in a Cash-in-Advance Model

NBER Working Paper No. w1549
Number of pages: 28 Posted: 12 Apr 2004 Last Revised: 27 Sep 2010
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 48 (425,737)
Citation 2

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18.

Risk Premia and Term Premia in General Equilibrium

NBER Working Paper No. w6683
Number of pages: 46 Posted: 12 Nov 1998 Last Revised: 08 May 2000
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 47 (429,482)
Citation 18

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19.

The Failure of Ricardian Equivalence Under Progressive Wealth Taxation

NBER Working Paper No. w1983
Number of pages: 17 Posted: 09 Jul 2004
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 44 (441,056)
Citation 1

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20.

The Mix and Scale of Factors with Irreversibility and Fixed Costs of Investment

NBER Working Paper No. w6148
Number of pages: 51 Posted: 14 Jun 2000 Last Revised: 06 Apr 2008
Andrew B. Abel and Janice C. Eberly
University of Pennsylvania - Finance Department and Northwestern University - Kellogg School of Management
Downloads 41 (453,274)
Citation 2

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21.

A Stochastic Model of Investment, Marginal Q and the Market Value of Thefirm

NBER Working Paper No. w1484
Number of pages: 34 Posted: 09 Mar 2004 Last Revised: 24 Jul 2010
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 39 (461,744)
Citation 1

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22.

Exact Solutions for Expected Rates of Return Under Markov Regime Switching: Implications for the Equity Premium Puzzle

NBER Working Paper No. w4110
Number of pages: 31 Posted: 09 Jan 2007 Last Revised: 30 Sep 2010
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 36 (474,845)

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23.

Equity Premia with Benchmark Levels of Consumption: Closed-Form Results

NBER Working Paper No. w12290
Number of pages: 50 Posted: 16 Jun 2006 Last Revised: 02 Aug 2010
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 36 (474,845)

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24.

The Effects of Irreversibility and Uncertainty on Capital Accumulation

Downloads 34 (483,994)

The Effects of Irreversibility and Uncertainty on Capital Accumulation

NBER Working Paper No. w5363
Number of pages: 44 Posted: 22 Jun 2000 Last Revised: 24 Sep 2010
Andrew B. Abel and Janice C. Eberly
University of Pennsylvania - Finance Department and Northwestern University - Kellogg School of Management
Downloads 34 (495,647)

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The Effects of Irreversibility and Uncertainty on Capital Accumulation

21-95
Posted: 13 Jul 1998
Andrew B. Abel and Janice C. Eberly
University of Pennsylvania - Finance Department and Northwestern University - Kellogg School of Management

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25.

An Analytic Framework for Interpreting Investment Regressions in the Presence of Financial Constraints

Downloads 33 (488,818)

An Analytic Framework for Interpreting Investment Regressions in the Presence of Financial Constraints

Number of pages: 56 Posted: 09 Apr 2020
Andrew B. Abel and Stavros Panageas
University of Pennsylvania - Finance Department and University of California, Los Angeles (UCLA) - Finance Area
Downloads 27 (534,711)

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Financial Constraints, Investment, Payout Policy, Investment Cash-flow Sensitivity, Average and Marginal q

An Analytic Framework for Interpreting Investment Regressions in the Presence of Financial Constraints

NBER Working Paper No. w26898
Number of pages: 57 Posted: 30 Mar 2020
Andrew B. Abel and Stavros Panageas
University of Pennsylvania - Finance Department and University of California, Los Angeles (UCLA) - Finance Area
Downloads 6 (684,608)
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26.

Accelerated Depreciation and the Efficacy of Temporary Fiscal Policy: Implications for an Inflationary Economy

NBER Working Paper No. w0596
Number of pages: 35 Posted: 17 May 2001 Last Revised: 20 Aug 2010
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 33 (488,818)

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27.

An Exact Soultion for the Investment and Market Value of a Firm Facing Uncertainty, Adjustment Costs, and Irreversibility

NBER Working Paper No. w4412
Number of pages: 26 Posted: 27 Dec 2006 Last Revised: 26 Jul 2010
Andrew B. Abel and Janice C. Eberly
University of Pennsylvania - Finance Department and Northwestern University - Kellogg School of Management
Downloads 32 (493,634)
Citation 4

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28.

Inventories, Stock-Outs, and Production Smoothing

NBER Working Paper No. w1563
Number of pages: 23 Posted: 08 Jun 2004
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 32 (493,634)
Citation 3

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29.

On the Invariance of the Rate of Return to Convex Adjustment Costs

NBER Working Paper No. w8635
Number of pages: 21 Posted: 13 Feb 2003 Last Revised: 25 Oct 2010
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 32 (493,634)

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30.

The Effects of Investing Social Security Funds in the Stock Market When Fixed Costs Prevent Some Households from Holding Stocks

NBER Working Paper No. w7739
Number of pages: 46 Posted: 12 Jun 2000 Last Revised: 18 Oct 2010
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 32 (493,634)
Citation 3

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31.

Optimal Capital Income Taxation

NBER Working Paper No. w13354
Number of pages: 40 Posted: 27 Aug 2007 Last Revised: 29 Jun 2010
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 31 (498,533)

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32.

The Social Security Trust Fund, the Riskless Interest Rate, and Capital Accumulation

Downloads 30 (503,713)
Citation 7

The Social Security Trust Fund, the Riskless Interest Rate, and Capital Accumulation

NBER Working Paper No. w6991
Number of pages: 47 Posted: 29 Mar 1999 Last Revised: 12 Oct 2010
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 30 (517,034)

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The Social Security Trust Fund, the Riskless Interest Rate, and Capital Accumulation

Rodney L. White Center for Financial Research WP 03-99
Posted: 29 Mar 1999
Andrew B. Abel
University of Pennsylvania - Finance Department

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33.

Optimal Monetary Growth

NBER Working Paper No. w2136
Number of pages: 20 Posted: 15 Mar 2007
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 29 (508,999)
Citation 1

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34.

Operative Gift and Bequest Motives

NBER Working Paper No. w2331
Number of pages: 23 Posted: 19 Aug 2004
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 26 (525,595)

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35.

Capital Accumulation and Uncertain Lifetimes with Adverse Selection

NBER Working Paper No. w1664
Number of pages: 30 Posted: 06 Apr 2004 Last Revised: 21 Jul 2010
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 26 (525,595)
Citation 2

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36.

Does the Consumption of Different Age Groups Move Together? a New Nonparametric Test of Intergenerational Altruism

NBER Working Paper No. w2490
Number of pages: 35 Posted: 06 Apr 2007
Andrew B. Abel and Laurence J. Kotlikoff
University of Pennsylvania - Finance Department and Boston University - Department of Economics
Downloads 25 (531,459)

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37.

Specification of the Joy of Giving: Insights from Altruism

NBER Working Paper No. w2154
Number of pages: 23 Posted: 21 Mar 2007
Andrew B. Abel and Mark J. Warshawsky
University of Pennsylvania - Finance Department and Towers Watson
Downloads 25 (531,459)

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38.

The Implications of Insurance for the Efficacy of Fiscal Policy

NBER Working Paper No. w2517
Number of pages: 68 Posted: 16 Jul 2004
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 25 (531,459)

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39.

Bequests and Social Security with Uncertain Lifetimes

NBER Working Paper No. w1372
Number of pages: 42 Posted: 06 Apr 2004
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 25 (531,459)

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40.

Optimal Debt and Profitability in the Tradeoff Theory

NBER Working Paper No. w21548
Number of pages: 74 Posted: 14 Sep 2015
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 24 (537,585)
Citation 3

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41.

Fiscal Policy with Impure Intergenerational Altruism

NBER Working Paper No. w2613
Number of pages: 71 Posted: 03 May 2004 Last Revised: 24 Aug 2010
Andrew B. Abel and B. Douglas Bernheim
University of Pennsylvania - Finance Department and Stanford University - Department of Economics
Downloads 24 (537,585)

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42.

Optimal Taxation When Consumers Have Endogenous Benchmark Levels of Consumption

NBER Working Paper No. w10099
Number of pages: 67 Posted: 17 Nov 2003 Last Revised: 07 Aug 2010
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 24 (537,585)
Citation 3

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43.

An Analysis of Fiscal Policy Under Operative and Inoperative Bequest Motives

NBER Working Paper No. w2298
Number of pages: 19 Posted: 18 Aug 2004
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 23 (543,605)

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44.

Aggregate Savings in the Presence of Private and Social Insurance

NBER Working Paper No. w1873
Number of pages: 39 Posted: 15 Mar 2004 Last Revised: 16 Aug 2010
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 23 (543,605)

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45.

Birth, Death and Taxes

NBER Working Paper No. w2953
Number of pages: 26 Posted: 29 Dec 2006 Last Revised: 29 Jul 2010
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 17 (581,478)

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46.

The Analytics of Investment, Q, and Cash Flow

NBER Working Paper No. w21549
Number of pages: 42 Posted: 14 Sep 2015
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 15 (594,237)

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47.

Precautionary Saving in a Financially-Constrained Firm

NBER Working Paper No. w26628
Number of pages: 51 Posted: 13 Jan 2020
Andrew B. Abel and Stavros Panageas
University of Pennsylvania - Finance Department and University of California, Los Angeles (UCLA) - Finance Area
Downloads 7 (649,168)
Citation 1
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48.

Crowding Out in Ricardian Economies

NBER Working Paper No. w21550
Number of pages: 32 Posted: 14 Sep 2015
Andrew B. Abel
University of Pennsylvania - Finance Department
Downloads 5 (663,362)

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49.

Financing Losers in Competitive Markets

JOURNAL OF FINANCIAL INTERMEDIATION, Vol 3 No 2
Posted: 27 Oct 1999
Andrew B. Abel and George J. Mailath
University of Pennsylvania - Finance Department and University of Pennsylvania - Department of Economics

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