清华大学宏观经济学Chapter-17.pptxVIP

;IN THIS CHAPTER, YOU WILL LEARN:;Three types of investment;U.S. Investment and its components, 1970–2011;Understanding business fixed investment;Two types of firms;The capital rental market;Factors that affect the rental price;Rental firms’ investment decisions;The cost of capital;Then, interest cost =  depreciation cost =  capital loss =  total cost =;The cost of capital;The rental firm’s profit rate;Net investment gross investment;The investment function;The investment function;Taxes and investment;Corporate income tax: A tax on profits;The Investment Tax Credit (ITC);Tobin’s q;Tobin’s q;Tobin’s q;Relation between q theory and neoclassical theory;The stock market and GDP;The stock market and GDP;The stock market and GDP;The stock market and GDP;Alternative views of the stock market: The efficient markets hypothesis;Alternative views of the stock market: Keynes’s “beauty contest”;Alternative views of the stock market: EMH vs. Keynes’s beauty contest;Financing constraints;Residential investment;How residential investment is determined;How residential investment is determined;;U.S. Housing Prices and Housing Starts, 2000-2011;Inventory investment;Motives for holding inventories;Motives for holding inventories;Motives for holding inventories;Motives for holding inventories;Inventories, the real interest rate, and credit conditions;CHAPTER SUMMARY;CHAPTER SUMMARY