Investment Options and the Business Cycle
收藏NBER2007-08-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w13307
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资源简介：
This paper extends Lucas (1978) to a production economy with two capital goods. It is an RBC model in which each unit of investment requires a new idea, an "option". When options are scarce, new capital is harder to put in place and the value of old capital rises. Thus the stock market and Tobin's Q
提供机构：
美国国家经济研究局
创建时间：
2007-08-01
