RT Generic
T1 Uncertainty and Tobin´s q in a monopolistic competition framework
A1 Licandro, Omar
A2 Universidad Carlos III de Madrid. Departamento de Economía, 
AB This paper combines the adjustment cost hypothesis of Tobin's q models with Malinvaud'sproposition that demand uncertainty matters in explaining investment. Demand uncertainty allows for ex-post excess capacity and leads firms to look at the expeeted excess capacity in deciding about investment. Marginal q is shown to be smaller than average q, the difference being explained by the degree of capacity utilization (DUC).
SN 2340-5031
YR 1991
FD 1991-02
LK https://hdl.handle.net/10016/2769
UL https://hdl.handle.net/10016/2769
LA eng
DS e-Archivo
RD 19 may. 2024