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The Neoclassical Investment Model and a New Conservation Law

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q

ratio is derived. We also show that, along the quasi-turnpike path, Tobin's marginal q is equal to the maximum value of average q. But along the turnpike path, marginal q becomes equal to the limiting value of average q.

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Authors and Affiliations

  1. Department of International Development Studies, Nihon University, 3-34-1, Shimouma, Setagaya-ku, Tokyo, Japan, 154-8513, , , , , , JP

    Haruo Kataoka

  2. School of International Politics, Economics and Business, Aoyama Gakuin University, 4-4-25, Shibuya, Shibuya-Ku, Tokyo, Japan, 150-8366 (e-mail: semba@sipeb.aoyama.ac.jp), , , , , , JP

    Ken-ichi Semba

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  1. Haruo Kataoka
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  2. Ken-ichi Semba
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Received September 15, 1999; revised version received January 25, 2001

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Kataoka, H., Semba, Ki. The Neoclassical Investment Model and a New Conservation Law. JEcon 75, 137–160 (2002). https://doi.org/10.1007/s007120200010

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  • DOI: https://doi.org/10.1007/s007120200010

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