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Q investment models, factor complementary and monopolistic competition

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dc.affiliation.dptoUC3M. Departamento de Economíaes
dc.contributor.authorLicandro, Omar
dc.contributor.editorUniversidad Carlos III de Madrid. Departamento de Economía
dc.date.accessioned2008-08-13T09:47:45Z
dc.date.available2008-08-13T09:47:45Z
dc.date.issued1991-02
dc.description.abstractThe observed fact that firms invest even if capacities are not fully employed does not fit well into most standard formalizations of optimal firm behavior. In this paper, the q investment approach is adapted to an imperfectly competitive economy where the representative firm is assumed to face demand uncertainty. Nominal rigidities and short-run factor complementarity are imposed as sufficient conditions to allow for the coexistence of investment and excess capacity. Since capacities are underemployed, marginal q is shown to diverge from average q. Finally, excess capacity subsists at steady state which makes it more than a shortrun phenomenon
dc.format.mimetypeapplication/pdf
dc.identifier.issn2340-5031
dc.identifier.urihttps://hdl.handle.net/10016/2794
dc.language.isoeng
dc.relation.ispartofseriesWorking Papers
dc.relation.ispartofseries1991-10
dc.rightsAtribución-NoComercial-SinDerivadas 3.0 España
dc.rights.accessRightsopen access
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.subject.ecienciaEconomía
dc.subject.otherTobin's q
dc.subject.otherInvestment
dc.subject.otherMonopolistic Competition
dc.subject.otherQuantity Rationing Model
dc.titleQ investment models, factor complementary and monopolistic competition
dc.typeworking paper*
dspace.entity.typePublication
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