Do central banks affect Tobin's q?

Joao Faria, Andre Mollick (), Adolfo Sachsida and Le Wang

International Review of Economics & Finance, 2012, vol. 22, issue 1, 1-10

Abstract: Previous work has documented inflation effects on Tobin's q in the long run. This paper examines whether the FED's different policies and chairmen tenure have an impact on Tobin's q, after a modified stylized AD-AS model shows that central banks affect q. We do find changing responses of q depending on the pre-Volcker and post-Volcker periods.

Keywords: Central bank; Tobin's q; U.S. Federal Reserve (search for similar items in EconPapers)
JEL-codes: E31 E44 E58 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:reveco:v:22:y:2012:i:1:p:1-10

DOI: 10.1016/j.iref.2011.08.003

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