The Bond Market's q

Thomas Philippon

NBER Working Paper No. 12462
Issued in August 2006

---- Acknowledgements -----

This paper was first circulated under the title "The y-theory of investment". I thank Daron Acemoglu, Mark Aguiar, Manuel Amador, Luca Benzoni, Olivier Blanchard, Xavier Gabaix, Mark Gertler, Simon Gilchrist, Bob Hall, Guido Lorenzoni, Sydney Ludvigson, Pete Kyle, Lasse Pedersen, Christina Romer, David Romer, Ivan Werning, Toni Whited, Jeff Wurgler, Egon Zakrajsek and seminar participants at NYU, MIT, the SED 2007, London Business School, Ente Einaudi (Rome), University of Salerno, Toulouse University, Duke University, and the NBER Summer Institutes 2006 and 2007.

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