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

Mark Holmes ()

International Journal of Business and Economics, 2010, vol. 9, issue 1, 23-28

Abstract: 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.

Keywords: Tobin's Q; investment; nonlinear trend; co-trend (search for similar items in EconPapers)
JEL-codes: C2 C3 E2 (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:ijb:journl:v:9:y:2010:i:1:p:23-28

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