consumption or investment. In this way, aggregate demand would be maintained by substituting public consumption for private … JamesTobin, relies on increasing the rate of inflation and making money less attractive relative to real capital. In Tobin …. This paper will examine ways of increasing capital intensity without raising the rate of inflation. The analysis will also …

The present paper analyses the effect of the interaction between tax rules and inflation on the size and allocation of … show that, with current U.S. tax laws, an increase in the rate of inflation reduces the equilibrium amount of business … inflation lowers the real net-of-tax rate of return to the provider of business capital. In a richer model than the current one …

's q theory of investment. As Tobin has explained, aggregate investment can be expected to depend in a stable way on q, the … return on physical capital raise its market value and cause increased investment until equilibrium is restored. Although … models linking the stock market to investment have been estimated, they have not previously been used to examine the impact …

This paper presents econometric evidence on the effect of tax incentives on business Investment in the United States in … the period from 1953 through1978. The analysis emphasizes that the Interaction of inflation and existing tax rules has … contributed substantially to the decline of business investment since the late 1960's.Because the investment process is far too …

inflation rate, with and with- out an increase in the risk premium on equities, was then simulated with a number of model … cost was 3 percentage points less than that for corporate capital) and the manner in which inflation magnifies it (the … finance instruments would overcome this reallocation but at the expense of corporate capital. Only a reduction in inflation or …

value on firm investment. Working with unique data on land values in 35 major Chinese markets and a panel of firms outside … the real estate industry, we estimate investment equations that yield no evidence of a collateral channel effect. One … reason for this stark difference appears to be that some of the most dominant firms in China are state-owned enterprises …

Investment in a broad array of intangible capital - R&D, organizational capital, worker training, and brand equity …. This evidence suggests that intangible capital formation may play an important role in China's reform-driven transformation … no general assessment of its role in China's rapid economic growth. This paper seeks to fill this gap by estimating how …

China presents several macroeconomic patterns that appear inconsistent with standard stylized facts about economic … Chinese economy, including its unusually low labor share and unusually high saving and investment rates. Interestingly, the …

last two decades is highly correlated with that of corporate investment efficiency. China's stock market appears to be … access it. Yet this high alpha amounts to an inflated cost of equity capital, constraining the investment of China's smaller … informativeness will be important to increase China's investment efficiency and fuel its continued economic growth. Finally, we …