Replication data for: Asset Pricing with Concentrated Ownership of Capital and Distribution Shocks

Kevin J. Lansing
This paper develops a production-based asset pricing model with two types of agents and concentrated ownership of physical capital. A temporary but persistent \"distribution shock\" causes the income share of capital owners to fluctuate in a procyclical manner, consistent with US data. The concentrated ownership model significantly magnifies the equity risk premium relative to a representative-agent model because the capital owners' consumption is more-strongly linked to volatile dividends from equity. With a steady-state risk aversion...
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