The DOI matches its Crossref record; 31 of the 31 references it cites were found in a registry or an index.
The Rate of Return on Everything, 1870–2015*
Open accessAbstract
What is the aggregate real rate of return in the economy? Is it higher than the growth rate of the economy and, if so, by how much? Is there a tendency for returns to fall in the long run? Which particular assets have the highest long-run returns? We answer these questions on the basis of a new and comprehensive data set for all major asset classes, including housing. The annual data on total returns for equity, housing, bonds, and bills cover 16 advanced economies from 1870 to 2015, and our new evidence reveals many new findings and puzzles.
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Citations
Cites
Capital in the Twenty-First Century
Piketty, T. (2014) · doi:10.4159/9780674369542 · Cited by 14,437
Mehra, R., & Prescott, E. C. (1985) · Journal of Monetary Economics · doi:10.1016/0304-3932(85)90061-3 · Cited by 5,535
“The Global Decline of the Labor Share”
Karabarbounis, L., & Neiman, B. (2014) · The Quarterly Journal of Economics · doi:10.1093/qje/qjt032 · Cited by 2,152
Capital is Back: Wealth-Income Ratios in Rich Countries 1700–2010 *
Piketty, T., & Zucman, G. (2014) · The Quarterly Journal of Economics · doi:10.1093/qje/qju018 · Cited by 1,344
Distributional National Accounts: Methods and Estimates for the United States*
Piketty, T., Saez, E., & Zucman, G. (2018) · The Quarterly Journal of Economics · doi:10.1093/qje/qjx043 · Cited by 1,141
The Returns to Entrepreneurial Investment: A Private Equity Premium Puzzle?
Moskowitz, T. J., & Vissing-Jørgensen, A. (2002) · American Economic Review · doi:10.1257/00028280260344452 · Cited by 1,061
U.S. Economic Prospects: Secular Stagnation, Hysteresis, and the Zero Lower Bound
Summers, L. H. (2014) · Business Economics · doi:10.1057/be.2014.13 · Cited by 1,018
The Delisting Bias in CRSP Data
SHUMWAY, T. (1997) · The Journal of Finance · doi:10.1111/j.1540-6261.1997.tb03818.x · Cited by 1,007
Measuring the natural rate of interest: International trends and determinants
Holston, K., Laubach, T., & Williams, J. C. (2017) · Journal of International Economics · doi:10.1016/j.jinteco.2017.01.004 · Cited by 693
The Delisting Bias in CRSP's Nasdaq Data and Its Implications for the Size Effect
Shumway, T., & Warther, V. A. (1999) · The Journal of Finance · doi:10.1111/0022-1082.00192 · Cited by 543
Cited by
The Marginal Propensity to Consume in Heterogeneous Agent Models
Kaplan, G., & Violante, G. L. (2022) · Annual Review of Economics · doi:10.1146/annurev-economics-080217-053444 · Cited by 116
Bank Capital Redux: Solvency, Liquidity, and Crisis
Jordà, Ò., Richter, B., Schularick, M., & Taylor, A. (2017) · doi:10.3386/w23287 · Cited by 64
Self-citationWhen homes earn more than jobs: the rentierization of the Australian housing market
Ryan-Collins, J., & Murray, C. (2023) · Housing Studies · doi:10.1080/02673037.2021.2004091 · Cited by 56
Emissions trading with rolling horizons
Quemin, S., & Trotignon, R. (2021) · Journal of Economic Dynamics and Control · doi:10.1016/j.jedc.2021.104099 · Cited by 50
Endogenizing the Cap in a Cap-and-Trade System: Assessing the Agreement on EU ETS Phase 4
Beck, U., & Kruse-Andersen, P. K. (2020) · Environmental and Resource Economics · doi:10.1007/s10640-020-00518-w · Cited by 36
Metadata
- Authors
- Jordà, Ò., Knoll, K., Kuvshinov, D., Schularick, M., & Taylor, A. M.
- Venue
- The Quarterly Journal of Economics
- Publisher
- Oxford University Press (OUP)
- Published
- 2019-04-09
- Volume
- 134
- Issue
- 3
- Pages
- 1225-1298
- ISSN
- 0033-5533 (ISSN-L)
- 1531-4650
- OpenAlex
- W2937700901
- Cited by
- 579
- References
- 31
- FWCI
- 51.78
- Type
- journal article
- Language
- en
- Open access
- bronze
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- CoChat. (2026). Citation check: The Rate of Return on Everything, 1870–2015*. https://app.cochat.ai/papers/10.1093/qje/qjz012
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- Jordà, Ò., Knoll, K., Kuvshinov, D., Schularick, M., & Taylor, A. M. (2019). The Rate of Return on Everything, 1870–2015*. The Quarterly Journal of Economics. https://doi.org/10.1093/qje/qjz012
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.