Journal ArticleDOI
A General Equilibrium Approach to Monetary Theory.
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This article is published in Journal of Money, Credit and Banking.The article was published on 1969-02-01. It has received 4922 citations till now. The article focuses on the topics: General equilibrium theory & Markov perfect equilibrium.read more
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Time to build and aggregate fluctuations
TL;DR: In this article, a general equilibrium model is developed and fitted to U.S. quarterly data for the post-war period, with the assumption that more than one time period is required for the construction of new productive capital and the non-time-separable utility function that admits greater intertemporal substitution of leisure.
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Diversification's effect on firm value
Philip G. Berger,Eli Ofek +1 more
TL;DR: In this paper, the authors estimate diversification's effect on firm value by imputing stand-alone values for individual business segments and compare the sum of these standalone values to the firm's actual value, and find that overinvestment and cross-subsidization contribute to the value loss.
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Tobin's Marginal q and Average q : A Neoclassical Interpretation
TL;DR: In this paper, the optimal rate of investment as a function of marginal q adjusted for tax parameters is derived from data on average q assuming the actual U.S. tax system concerning corporate tax rate and depreciation allowances.
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Capital-Market Imperfections and Investment
TL;DR: In this paper, the authors present a review of the development and challenges in this empirical research, and uses advances in models of information and incentive problems to motivate those developments and challenges, and discuss implications of this research program for analysis of investment on monetary policy and tax policy.
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Corporate social responsibility and access to finance
TL;DR: In this article, the authors investigate whether superior performance on corporate social responsibility (CSR) strategies leads to better access to finance and find that firms with better CSR performance face significantly lower capital constraints.