| Titre | L'apport du Q de Tobin à la modélisation de l'investissement en France | |
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| Auteur | Anne Epaulard | |
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Revue | Economie et prévision |
| Numéro | no 109, 1993/3 | |
| Page | 1-12 | |
| Résumé anglais |
The Contribution of Tobin's Q Theory to Investment Modelling in France,
by Anne Epaulard.
This article looks at the aptness of Tobin's q theory in modelling the investment behaviour of French companies. Tests on independent hypotheses provide a measurement of the contribuuon of Tobin's q theory by comparing the performances of this model with those of the accelerator, profit and profitability. Two alternative concepts are then used to justify the simultaneous presence of the accelerator and Tobin's q in investment equations at a maaoeconomic level. The first concept assumes that some of the companies have restricted markets. A dual-system model is therefore estimated (accelaator - Tobin's q) with satisfactory empirical performances, which highlight the fact that the two systems followed one another and sometimes coexisted ova the period from 1974 to 1989. The second concept consists of introducing the hypothesis of monopolistic competition into the theoretical model and econometric estimates. Source : Éditeur (via Persée) |
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| Article en ligne | http://www.persee.fr/web/revues/home/prescript/article/ecop_0249-4744_1993_num_109_3_5616 |
