●Tobin'sq The ratio of the market value of installed capital to its replacement cost(重置成本). ●Financing constraint(筹资限制) A limit on the quantity of funds a firm can raise-such as through borrowing-in order to buy capital. 注：重置成本·-由于设备磨损而须重新购置的成本
⚫ Tobin’s q The ratio of the market value of installed capital to its replacement cost (重置成本). ⚫ Financing constraint(筹资限制) A limit on the quantity of funds a firm can raise-such as through borrowing-in order to buy capital. 注：重置成本－-由于设备磨损而须重新购置的成本
●Production smoothing(生产平稳化) The motive for holding inventories according to which a firm can reduce its costs by keeping the amount of output it produces steady and allowing its stock of inventories to respond to fluctuating sales
⚫ Production smoothing(生产平稳化) The motive for holding inventories according to which a firm can reduce its costs by keeping the amount of output it produces steady and allowing its stock of inventories to respond to fluctuating sales
●Stock-out avoidance(避免脱销) The motive for holding inventories according to which firms keep extra goods on hand to prevent(防止)running out(将尽) if sales are unexpectedly high. ●Work in process Goods in inventory that are in the process of being completed
⚫ Stock-out avoidance(避免脱销) The motive for holding inventories according to which firms keep extra goods on hand to prevent(防止) running out(将尽) if sales are unexpectedly high. ⚫ Work in process Goods in inventory that are in the process of being completed
●Accelerator model(加速模型) The model according to which investment depends on the change in output. N=BY I=△N=BAY N是经济的存货量，I是存货投资一是存货量的变动△N
⚫ Accelerator model(加速模型) The model according to which investment depends on the change in output. N = ßY I = N = ßY N是经济的存货量, I 是存货投资—是存货量的变动N
Real rental price,R/P Capital supply Capital demand (MPK) K Capital stock,K The Rental Price of Capital
The Rental Price of Capital