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FLOOR-LANE ASSET-PRICE IMPACT
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Verified absorption flow (Paper 8): 0.39%/yr Mode B, 0.65%/yr floor-max

FACT 1 -- short-run valuation impulse from one year's flow = f x M (GK):
                  multiplier M    Mode B  floor-max
        order-unity (Bouchaud)      0.4%       0.7%
                    GK central      1.9%       3.2%
                       GK high      3.1%       5.2%
    (demand-side price impact before any equity-supply response)

FACT 2 -- long-run bounded premium (Paper 8 Prop 1, A*/phi):
    at illustrative phi=0.5: premium = 0.78% (Mode B)
    premium scales as 1/phi; a weaker supply response raises it.
    phi is NOT measured by GK and is the load-bearing open parameter.

BENCHMARK (Paper 8): corporate buybacks average ~1.5%/yr of cap,
  ~3.8x the floor's Mode B flow. The market already absorbs a
  larger structural bid than the floor introduces; the floor is not
  unprecedented in magnitude, though it is permanent and rule-bound.
