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@SteveRoth (I guess maybe that is really #2B in your taxonomy, if we consider newly issued financial claims as new investment goods! So in that example, it's not #3 per se. But when share prices rise in a sector, there is often an increase in activity in that sector, not necessarily connected to any issuance of new shares. Mere revaluations, in practice usually resulting from "tatonnement" of asset swaps, affect real economic activity.)