Do central banks affect Tobin's q?

Previous work has documented inflation effects on Tobin's q in the long run. This paper examines whether the FED's different policies and chairmen tenure have an impact on Tobin's q, after a modified stylized AD-AS model shows that central banks affect q. We do find changing responses of q depending on the pre-Volcker and post-Volcker periods.

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Year of publication:	2012
Authors:	Faria, João Ricardo ; Mollick, André Varella ; Sachsida, Adolfo ; Wang, Le
Published in:	International Review of Economics & Finance. - Elsevier, ISSN 1059-0560. - Vol. 22.2012, 1, p. 1-10
Publisher:	Elsevier
Subject:	Central bank \| Tobin's q \| U.S. Federal Reserve

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Type of publication:	Article
Classification:	E31 - Price Level; Inflation; Deflation ; E44 - Financial Markets and the Macroeconomy ; E58 - Central Banks and Their Policies
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010576979