Capital and labor in thelong-run: evidence fromTobin's q for the US
This paper assesses different measures of Tobin's q on the US labor market over 1948--2002. We find a negative long-run relationship between the unemployment rate and Tobin's q , which is consistent with capital and labor being complements in production.
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Volume (Year): 17 (2010)
Issue (Month): 1 (January)
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