Multiple q and Investment in Japan

In this book, a framework of the investment function is developed that allows for the heterogeneity of capital goods, i.e., the Multiple q model, and investment behavior in Japan by employing this Multiple q framework is developed. The standard approach t

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Multiple q and Investment in Japan

Multiple q and Investment in Japan

Kazumi Asako Jun-ichi Nakamura Konomi Tonogi •



Multiple q and Investment in Japan

123

Kazumi Asako Rissho University Tokyo, Japan

Jun-ichi Nakamura Research Institute of Capital Formation Development Bank of Japan Tokyo, Japan

Konomi Tonogi Rissho University Tokyo, Japan

ISBN 978-981-15-2980-1 ISBN 978-981-15-2981-8 https://doi.org/10.1007/978-981-15-2981-8

(eBook)

© Development Bank of Japan 2020 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, expressed or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. This Springer imprint is published by the registered company Springer Nature Singapore Pte Ltd. The registered company address is: 152 Beach Road, #21-01/04 Gateway East, Singapore 189721, Singapore

Acknowledgements

In writing the present book, we have received various types of support from many individuals either directly, through valuable comments that helped improve our research, or indirectly, through joint work in the early stages of previous projects that eventually led to the present outcome. In alphabetical order, these individuals include, among others, Profs. Koichi Ando, Mototsugu Fukushige, Toru Inoue, Morio Kuninori, Hideaki Murase, Keiichi Shima, and Akiyuki Tonogi. We would also like to thank the editorial committee at the Research Institute of Capital Formation, Development Bank of Japan for offering us the opportunity to publish this book as well as the members of the peer review committee and participants in the review conference, who provided valuable advice in the intermediate and final stages of writing this book. Any remaining errors are the authors’ own. The content and opinions presented in this book are solely attributable to the authors and are unrelated to any organizations with which the authors are affiliated. Finally, we wish to acknowledge the receipt of grants from the Japan Society for the Promotion of S