The Q Theory of Investment Under Unit Root Tests

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).

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Year of publication:	1992-02-01
Authors:	de la Croix, David ; Licandro, Omar
Institutions:	Institut de Recherche Économique et Sociale (IRES), École des Sciences Économiques de Louvain
Subject:	investments \| economic models

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Series:	Discussion Papers (IRES - Institut de Recherches Economiques et Sociales).
Type of publication:	Book / Working Paper
Notes:	The text is part of a series UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES) Number 1992005 5 pages long
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10004984912