Capital and labor in thelong-run: evidence fromTobin's <italic>q</italic> for the US

This paper assesses different measures of Tobin's <italic>q</italic> on the US labor market over 1948--2002. We find a negative long-run relationship between the unemployment rate and Tobin's <italic>q</italic>, which is consistent with capital and labor being complements in production.

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Year of publication:	2010
Authors:	Mollick, Andre V. ; Faria, Joao R.
Published in:	Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 17.2010, 1, p. 11-14
Publisher:	Taylor & Francis Journals

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008582789