Must-Read: German Gutierrez and Thomas Philippon: Investment-less growth: An empirical investigation: “Business investment remains low despite high profits, low funding costs, and high asset values… https://www.brookings.edu/bpea-articles/investment-less-growth-an-empirical-investigation/ …which economists refer to as “high Tobin’s Q.”… The authors test eight alternative theories…. About a third of the decline in measured investment can be explained by a shift … Continue reading Must-Read: German Gutierrez and Thomas Philippon: Investment-less growth: An empirical investigation