The Q Theory of Investment Under Unit Root Tests

David de la Croix and Omar Licandro ()

No 1992005, LIDAM Discussion Papers IRES from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)

Abstract: We test a q investment model for Belgium using a multivariate cointegration approach. The introduction of the degree of capacity utilization duc, in addition to investment and average q, is necessary to determine the cointegration space. This supports the idea that marginal q differs from average q by a factor which is a function of duc, as suggested by Licandro (1992).

Keywords: investments; economic models (search for similar items in EconPapers)
Pages: 5
Date: 1992-02-01
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Journal Article: The q theory of investment under unit root tests (1993)
Working Paper: The Q theory of investment under unit root tests (1992)
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