An Alternative Perspective on Tobin's Q and Aggregate Investment Expenditure

This study provides new evidence on the relationship between Tobin's Q and private investment. Using a testing procedure advocated by Bierens applied to US data, both series are found to be stationary around a nonlinear deterministic trend and are co-trended insofar as they share a common nonlinear deterministic trend.

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Year of publication:	2010
Authors:	Holmes, Mark J.
Published in:	International Journal of Business and Economics. - College of Business, ISSN 1607-0704. - Vol. 9.2010, 1, p. 23-28
Publisher:	College of Business
Subject:	Tobin's Q \| investment \| nonlinear trend \| co-trend

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Extent:	application/pdf text/html
Type of publication:	Article
Classification:	E2 - Consumption, Saving, Production, Employment, and Investment ; C2 - Econometric Methods: Single Equation Models ; C3 - Econometric Methods: Multiple/Simultaneous Equation Models
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010837289