Andrew B. Abel
The Wharton School
University of Pennsylvania
2315 Steinberg Hall - Dietrich Hall
Philadelphia, PA 19104-6367
Tel: 215/898-4801
Fax: 215/573-7244
E-Mail: 
WWW: http://finance.wharton.upenn.edu/~abel
NBER Program Affiliations:
EFG
,
AP
,
ME
NBER Affiliation: Research Associate
Institutional Affiliation: University of Pennsylvania
Information about this author at RePEc
NBER Working Papers and Publications
| September 2015 | Optimal Debt and Profitability in the Tradeoff Theory
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Published: ABEL, A. B. (2018), Optimal Debt and Profitability in the Trade‐Off Theory. The Journal of Finance, 73: 95-143. doi:10.1111/jofi.12590
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| The Analytics of Investment, q, and Cash Flow
w21549
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| Crowding Out in Ricardian Economies
w21550
Published: Andrew B. Abel, 2017. "Crowding out in Ricardian economies," Journal of Monetary Economics, vol 87, pages 52-66.
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| May 2009 | Optimal Inattention to the Stock Market with Information Costs and Transactions Costs
with Janice C. Eberly, Stavros Panageas: w15010
Published: Abel, A. B., Eberly, J. C. and Panageas, S. (2013), Optimal Inattention to the Stock Market With Information Costs and Transactions Costs. Econometrica, 81: 1455–1481. doi: 10.3982/ECTA7624
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| August 2007 | Optimal Capital Income Taxation
w13354
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| June 2006 | Equity Premia with Benchmark Levels of Consumption: Closed-Form Results
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Published: Mehra, Rajnish (ed.) Handbook of the Equity Risk Premium, Handbooks in Finance. Amsterdam and Boston: Elsevier, North-Holland, 2008.
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| November 2003 | Optimal Taxation When Consumers Have Endogenous Benchmark Levels of Consumption
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Published: Abel, Andrew B. "Optimal Taxation When Consumers Have Endogenous Benchmark Levels Of Consumption," Review of Economic Studies, 2005, v72(250,Jan), 21-42.
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| September 2002 | The Effects of a Baby Boom on Stock Prices and Capital Accumulation in the Presence of Social Security
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Published: Abel, Andrew B. "The Effects Of A Baby Boom On Stock Prices And Capital Accumulation In The Presence Of Social Security," Econometrica, 2003, v71(2,Mar), 551-578. citation courtesy of 
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| December 2001 | On the Invariance of the Rate of Return to Convex Adjustment Costs
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Published: Abel, Andrew B. "On The Invariance Of The Rate Of Return To Convex Adjustment Costs," Review of Economic Dynamics, 2002, v5(3,Jul), 586-601. citation courtesy of
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| On the Invariance of the Rate of Return to Convex Adjustment Costs
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Published: Andrew B. Abel, 2002. "On the Invariance of the Rate of Return to Convex Adjustment Costs," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 5(3), pages 586-601, July. citation courtesy of
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| February 2001 | Will Bequests Attenuate the Predicted Meltdown in Stock Prices When Baby Boomers Retire?
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Published: Abel, Andrew B. "Will Bequests Attenuate The Predicted Meltdown In Stock Prices When Baby Boomers Retire?," Review of Economics and Statistics, 2001, v83(4,Nov), 589-595. citation courtesy of
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| An Exploration of the Effects of Pessimism and Doubt on Asset Returns
w8132
Published: Abel, Andrew B., 2002. "An exploration of the effects of pessimism and doubt on asset returns," Journal of Economic Dynamics and Control, Elsevier, vol. 26(7-8), pages 1075-1092, July. citation courtesy of
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| January 2001 | The Social Security Trust Fund, the Riskless Interest Rate, and Capital Accumulation
in Risk Aspects of Investment-Based Social Security Reform, John Y. Campbell and Martin Feldstein, editors
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| June 2000 | The Effects of Investing Social Security Funds in the Stock Market When Fixed Costs Prevent Some Households from Holding Stocks
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Published: Andrew B. Abel, 2001. "The Effects of Investing Social Security Funds in the Stock Market When Fixed Cobsts Prevent Some Households from Holding Stocks," American Economic Review, American Economic Association, vol. 91(1), pages 128-148, March. citation courtesy of
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| March 1999 | The Social Security Trust Fund, the Riskless Interest Rate, and Capital Accumulation
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Published: Campbell, John and Martin Feldstein (eds.) Risk Aspects of Investment-Based Social Security Reform. Chicago: University of Chicago Press, 2000.
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| August 1998 | Risk Premia and Term Premia in General Equilibrium
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Published: Journal of Monetary Economics, Vol. 43, no. 1 (February 1999): 3-33. citation courtesy of
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| August 1997 | The Mix and Scale of Factors with Irreversibility and Fixed Costs of Investment
with Janice C. Eberly: w6148
Published: Abel, Andrew B. & Eberly, Janice C., 1998. "The mix and scale of factors with irreversibility and fixed costs of investment," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 48(1), pages 101-135, June. citation courtesy of
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| November 1995 | The Effects of Irreversibility and Uncertainty on Capital Accumulation
with Janice C. Eberly: w5363
Published: Journal of Monetary Economics, Vol. 44, no. 3 (December 1999): 339-377. citation courtesy of
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| August 1995 | Options, the Value of Capital, and Investment
with Avinash K. Dixit, Janice C. Eberly, Robert S. Pindyck: w5227
Published: Quarterly Journal of Economics, vol. 111, no. 3, pp. 753-777, August 1996. citation courtesy of
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| April 1995 | Optimal Investment with Costly Reversibility
with Janice C. Eberly: w5091
Published: Review of Economic Studies, vol.63, no.4, pp.581-593, August 1996. citation courtesy of
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| July 1993 | An Exact Soultion for the Investment and Market Value of a Firm Facing Uncertainty, Adjustment Costs, and Irreversibility
with Janice C. Eberly: w4412
Published: Journal of Economic Dynamics and Control, Vol. 21 (1997): 831-852.
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| March 1993 | A Unified Model of Investment Under Uncertainty
with Janice C. Eberly: w4296
Published:
- American Economic Review, Vol. 84, no. 1 (December 1994): 1369-1384. citation courtesy of
- The Economic Legacy of Robert Lucas, Jr., Hoover, Kevin D., ed.: Edward Elgar Publishing, October 1999.
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| June 1992 | Exact Solutions for Expected Rates of Return Under Markov Regime Switching: Implications for the Equity Premium Puzzle
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Published: Journal of Money, Credit and Banking, 26, 3, August 1994, Part I), pp. 345- 361 citation courtesy of
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| March 1990 | Asset Prices under Habit Formation and Catching up with the Joneses
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Published: The American Economic Review, Vol. 80, No. 2, pp. 38-42, (May 1990). citation courtesy of
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| May 1989 | Birth, Death and Taxes
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Published: Journal of Public Economics, Vol 39, pp. 1-15, (1989). citation courtesy of
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| June 1988 | Fiscal Policy With Impure Intergenerational Altruism
with B. Douglas Bernheim: w2613
Published: Econometrica, Vol. 59, No. 6, pp. 1687-1711, (November 1991). citation courtesy of
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| Stock Prices Under Time-Varying Dividend Risk: An Exact Solution In An Infinite-Horizon General Equilibrium Model
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Published: "Stock Prices Under Time-Varying Dividend Risk." From Journal of Monetary Economics, Vol. 22, No. 3, pp. 375-393, (November 1988). citation courtesy of
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| April 1988 | Consumption and Investment
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Published: Friedman, Benjamin M. and Frank Hahn (eds.) Handbook of Monetary Economics. Amsterdam: Elsevier Science B.V., 1990.
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| February 1988 | The Implications of Insurance for the Efficacy of Fiscal Policy
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Published: Abel, Andrew B. "The Implications of Insurance for the Efficacy of Fiscal Policy." from the Journal of Risk and Insurance, Vol. 55, No. 2, pp. 339-3 78, June 1988.
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| 1988 | Does the Consumption of Different Age Groups Move Together? A New Nonparametric Test of Intergenerational Altruism
with Laurence J. Kotlikoff: w2490
Published: "Intergenerational Altruism and the Effectiveness of Fiscal Policy- New Tests Based on Cohort Data", in Toshiaki Tachibanaki, ed., Savings and Bequests, (Ann Arbor: University of Michigan Press: 1994), pp. 167-196
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| August 1987 | Operative Gift and Bequest Motives
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Published: Abel, Andrew B. "Operative Gift and Bequest Motives." American Economic Review, Vol.77, No.5, (December 1987) pp. 1037-1047. citation courtesy of
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| June 1987 | An Analysis of Fiscal Policy Under Operative and Inoperative Bequest Motives
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Published:
- Abel, Andrew B. "Operative Gift And Bequest Motives," American Economic Review, 1987, v77(5), 1037-1047.
- Helpman, Elhanan, Assaf Razin, and Efraim Sadka (eds.) Economic Effects of the Government Budget. Cambridge, MA: MIT Press, 1988.
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| February 1987 | Specification of the Joy of Giving: Insights from Altruism
with Mark Warshawsky: w2154
Published: Review of Economics and Statistics, Vol. 70, No. 1, February 1988, pp. 145- 149. citation courtesy of
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| 1987 | Optimal Monetary Growth
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Published: Abel, Andrew B. "Optimal Monetary Growth," Journal of Monetary Economics, Vol. 19, No. 3, May 1987, pp 437-450. citation courtesy of
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| December 1986 | Assessing Dynamic Efficiency: Theory and Evidence
with N. Gregory Mankiw, Lawrence H. Summers, Richard J. Zeckhauser: w2097
Published: Review of Economic Studies, Vol. 56, No. 1, pp. 1-20, (January 1989). citation courtesy of
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| October 1986 | Investment and Sales: Some Empirical Evidence
with Olivier J. Blanchard: w2050
Published: From Dynamic Econometric Modeling: Proceedings of the Third International Symposium in Economic Theory & Econometrics, edited by William A. Barnett, Ernst Berndt, and Halbert White, pp. 269-296. New York: Cambridge Univ-ersity Press, 1988.
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| July 1986 | The Failure of Ricardian Equivalence Under Progressive Wealth Taxation
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Published: Abel, Andrew B. "The Failure of Ricardian Equivalence Under Progressive Wealth Taxation." Journal of Public Economics, Vol. 30, No. 1, (June 1986), pp . 117-128. citation courtesy of
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| March 1986 | Aggregate Savings in the Presence of Private and Social Insurance
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Published: Abel, Andrew B. "Aggregate Savings in the Presence of Private and Social Insurance," Macroeconomics and Finance: Essays in Honor of Franco Modigliani , edited by R. Dornbusch, Stanley Fischer and John Bossons. Cambridge, MA: MIT Press, 1987, pp. 131-157.
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| July 1985 | Capital Accumulation and Uncertain Lifetimes with Adverse Selection
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Published: Abel, Andrew B. "Capital Accumulation and Uncertain Lifetimes with Adverse Selection." Econometrica, Vol. 54, No. 5, (September 1986), pp. 1079-1097. citation courtesy of
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| February 1985 | Inventories, Stock-Outs, and Production Smoothing
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Published: Abel, Andrew B. "Inventories, Stock-Outs, and Production Smoothing." Review of Economic Studies, Vol. 52, (1985), pp. 283-293. citation courtesy of
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| 1985 | Dynamic Behavior of Capital Accumulation in a Cash-in-Advance Model
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Published: Abel, Andrew B. "Dynamic Behavior of Capital Accumulation in a Cash-in-Advance Model," Journal of Monetary Economics, Vol. 16, No. 1, July 1985, pp. 55-71. citation courtesy of
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| October 1984 | A Stochastic Model of Investment, Marginal q and the Market Value of theFirm
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Published: Abel, Andrew B. "A Stochastic Model of Investment, Marginal q and the Market Value of the Firm," International Economic Review, Vol. 26, No. 2, June 1985, pp. 305-322. citation courtesy of
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| June 1984 | Bequests and Social Security With Uncertain Lifetimes
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Published: Abel, Andrew B. 'Precautionary Saving and Accidental Bequests," American Economic Review, Vol. 75, No. 4, September 1985, pp. 777-791.
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| 1984 | R&D and the Market Value of the Firm: A Note
in R&D, Patents, and Productivity, Zvi Griliches, editor
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| May 1983 | The Present Value of Profits and Cyclical Movements in Investment
with Olivier J. Blanchard: w1122
Published: Abel, Andrew B. and Olivier J. Blanchard. "The Expected Present Discounted Value of Profits and the Cyclical Variability of Investment," Econometrica, Vol. 54, No. 2, pp. 249-272, March 1986. citation courtesy of
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| April 1982 | An Intertemporal Model of Saving and Investment
with Olivier J. Blanchard: w0885
Published: Abel, Andrew B., & Oliver J. Blanchard. "An Intertemporal Model of Saving and Investment." Econometrica, Vol. 51, No. 3, (May 1983), pp. 675-692. citation courtesy of
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| August 1981 | An Integrated View of Tests of Rationality, Market Efficiency, and the Short-Run Neutrality of Monetary Policy
with Frederic S. Mishkin: w0726
Published: Abel, Andrew B., Frederic S. Mishkin. "An Integrated View of Tests of Rationality, Market Efficiency, and the Short-Run Neutrality of Monetary Policy."Journal of Monetary Economics, Vol. 11, No. 1, (January 1983), pp. 3-24. citation courtesy of
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| December 1980 | Accelerated Depreciation and the Efficacy of Temporary Fiscal Policy: Implications for an Inflationary Economy
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Published: Abel, Andrew B. "Accelerated Depreciation and the Efficacy of Temporary Fiscal Policy: Implications for an Inflationary Economy." Journal of Public Economics, Vol. 19, (1982), pp. 23-47. citation courtesy of
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| April 1975 | A Comparison of Three Control Algorithms as Applied to the Monetarist-Fiscalist Debate
in Annals of Economic and Social Measurement, Volume 4, number 2, Sanford V. Berg, editor
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