The Price per Pound and Replacement Cost:
               <i>The Effects of Q on Office Investment</i>

Nordby, Hans; Taylor, Michael

doi:10.3905/jpm.2013.39.5.076

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2017

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“…6 Other contributions using CWT analysis include Aguiar-Conraria et al (2008), Crowley and Mayes (2008), Rua and Nunes (2009), Rua (2010Rua ( , 2012, Aguiar-Conraria and Soares (2011), Aguiar-Conraria et al (2012, 2013, Caraiani (2012), Gallegati and Ramsey (2014), Ko and Lee (2015), Marczak and Gomez (2015), and Verona (2016).…”

Section: Recent Contributions In Macro-financementioning

confidence: 99%

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Q, Investment, and the Financial Cycle

Verona

2017

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The empirical performance of the Q theory of investment can be significantly improved by simultaneously considering the time-and the frequency-varying features of the investment-Q relationship.Using continuous wavelet tools, I assess the investment-Q sensitivity at different frequencies and its evolution over time, as well as the interaction of the financial cycle with the Q theory. The results show that there is a positive, stable medium-to-long-run relationship between investment and Q that begins after a positive, stable long-run relationship between credit and Q materializes. In such case, credit leads and slowly fuels the stock price boom.

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Section: Recent Contributions In Macro-financementioning

confidence: 99%

“…See https://www.minneapolisfed.org/publications/the-region/interview-with-james-tobin Nordby and Taylor (2013). explores the role of Tobin's Q in the office sector.…”

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confidence: 99%

Q, Investment, and the Financial Cycle

Verona

2017

SSRN Journal

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The Price per Pound and Replacement Cost: The Effects of Q on Office Investment

Cited by 1 publication

References 7 publications

Q, Investment, and the Financial Cycle

Q, Investment, and the Financial Cycle

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