Production Externalities, Tobin's Q and Endogenous Growth
AbstractWe investigate the implications of constant aggregate returns in production being generated by the combination of private capital and an external factor, as emphasised by the endogenous growth literature. We show that average Q deviates from marginal Q in proportion to the discrepancy between private and social returns in production.
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Bibliographic InfoPaper provided by Universite de Nantes - Economie Internationale et de l'Entreprise in its series Papers with number 281.
Length: 14 pages
Date of creation: 2001
Date of revision:
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Postal: Universite de Nantes, Centre d'Etudes sur l'Economie Internationale et l'Entreprise. 110, Bd. Michelet 44071 Nantes CEDEX 03 France.
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GROWTH MODELS ; CAPITAL ; EXTERNALITIES;
Find related papers by JEL classification:
- E22 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Capital; Investment; Capacity
- E23 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Production
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