Integrating Tobin's Q with Goodwin's Nonlinear Accelerator

Joao Faria

No 104, Working Paper Series from Finance Discipline Group, UTS Business School, University of Technology, Sydney

Abstract: This paper derives an optimal investment function that combines Tobin's q with Goodwin's nonlinear accelerator. It provides microfoundations to the backward looking behaviour of investment in Goodwin's model, and simultaneously allows the study of Tobin's q into a business cycle model.

Keywords: investment, business cycles; tobin's q (search for similar items in EconPapers)
JEL-codes: E22 E32 (search for similar items in EconPapers)
Date: 2000-05-01
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