Inefficiency of Corporate Investment and Distortion of Savings Behavior in Japan
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The value of corporate equity in Japan is dramatically smaller than that implied by the sum of the reproduction cost of accumulated investment and the market value of land owned by corporations (that is, the Tobin's average 'q' is much smaller than unity). This discrepancy appears to result from the
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美国国家经济研究局创建时间：
2003-01-01
