The Neoclassical Investment Model and a New Conservation Law

Haruo Kataoka and Ken-ichi Semba
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Haruo Kataoka: Department of International Development Studies, Nihon University, 3-34-1, Shimouma, Setagaya-ku, Tokyo, Japan, 154-8513
Ken-ichi Semba: School of International Politics, Economics and Business, Aoyama Gakuin University, 4-4-25, Shibuya, Shibuya-Ku, Tokyo, Japan, 150-8366 (e-mail: semba@sipeb.aoyama.ac.jp)

Journal of Economics, 2002, vol. 75, issue 2, 137-160

Abstract: q ratio is derived. We also show that, along the quasi-turnpike path, Tobin's marginal q is equal to the maximum value of average q. But along the turnpike path, marginal q becomes equal to the limiting value of average q.

Keywords: Keywords: neoclassical investment model; adjustment cost function; conservation law; point transformation; turnpike path; quasi-turnpike path; q investment theory.; JEL classification: C61; D92; E13; E22. (search for similar items in EconPapers)
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:kap:jeczfn:v:75:y:2002:i:2:d:10.1007_s007120200010

DOI: 10.1007/s007120200010

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