| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w5508 |
| 来源ID | Working Paper 5508 |
| Fixed Costs: The Demise of Marginal q | |
| Ricardo J. Caballero; John V. Leahy | |
| 发表日期 | 1996-03-01 |
| 出版年 | 1996 |
| 语种 | 英语 |
| 摘要 | The standard version of q theory, in which investment is positively related to marginal q, breaks down in the presence of fixed costs of adjustment. With fixed costs, investment is a non-monotonic function of q. Therefore its inverse, which is the traditional investment function, does not exist. Depending upon auxiliary assumptions, the correlation between investment and marginal q can be either positive or negative. Given certain homogeneity assumptions, a version of the theory based on average q still holds, although under the same assumptions profits and sales perform as well as average q. More generally, q is no longer a sufficient statistic. |
| 主题 | Macroeconomics ; Consumption and Investment |
| URL | https://www.nber.org/papers/w5508 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/562971 |
| 推荐引用方式 GB/T 7714 | Ricardo J. Caballero,John V. Leahy. Fixed Costs: The Demise of Marginal q. 1996. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w5508.pdf（793KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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