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The Reconsideration of "Valuation Ratio" from the Contemporary Perspective
Title: | The Reconsideration of "Valuation Ratio" from the Contemporary Perspective |
Authors: | Kurose, Kazuhiro Browse this author |
Keywords: | Valuation Ratio, Capital Gain, Income Distribution |
Issue Date: | Jul-2003 |
Publisher: | Faculty of Economics, Hokkaido University |
Journal Title: | Economic journal of Hokkaido University |
Volume: | 32 |
Start Page: | 123 |
End Page: | 139 |
Abstract: | The purpose of this paper is to reconsider the "valuation ratio," a close notion to the so-called "Q-ratio." It is always assumed to be a constant, even though it is not equal to unity. However, the assumption is inappropriate from the contemporary perspective. In fact, it has obscured the weakness of the post-Keynesian theory. Therefore, the assumption should be removed. We examine the result when its ratio is regarded as a variable. Finally, we conclude the need for the introduction of new parameter to denote a proportion of newly issued securities to the total purchased. (JEL E12, E44, F34, G1) |
Type: | bulletin (article) |
URI: | http://hdl.handle.net/2115/5382 |
Appears in Collections: | Economic Journal of Hokkaido University > Vol. 32
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