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The Reconsideration of "Valuation Ratio" from the Contemporary Perspective

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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)
Appears in Collections:Economic Journal of Hokkaido University > Vol. 32

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