Capital and labor in thelong-run: evidence fromTobin's q for the US

Andre V. Mollick () and Joao Ricardo Faria ()

Applied Economics Letters, 2010, vol. 17, issue 1, pages 11-14

Abstract: This paper assesses different measures of Tobin's q on the US labor market over 1948--2002. We find a negative long-run relationship between the unemployment rate and Tobin's q, which is consistent with capital and labor being complements in production.

Date: 2010
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