The American Economic Review, Volume 70,Edições 3-5American Economic Association., 1980 Includes annual List of doctoral dissertations in political economy in progress in American universities and colleges; and the Hand book of the American Economic Association. |
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Página 639
... hold capital unless its yield is above some minimum level . In the traditional two - asset Keynesian model , this is represented as a liquidity trap , that is , as an infinitely elastic demand for money at some low rate of interest . A ...
... hold capital unless its yield is above some minimum level . In the traditional two - asset Keynesian model , this is represented as a liquidity trap , that is , as an infinitely elastic demand for money at some low rate of interest . A ...
Página 664
... hold also for the prices of securities.14 B. Testable Implications In view of our preceding discussion , we can state in general that the CAPM , under stationary return distributions , implies a linear homogeneous structure of ...
... hold also for the prices of securities.14 B. Testable Implications In view of our preceding discussion , we can state in general that the CAPM , under stationary return distributions , implies a linear homogeneous structure of ...
Página 879
... hold . Casual observation of ( 10 ) suggests that if investors with large risk tolerance have little precision in their assessments , and vice versa , then the variance in the consensus belief will be large , because in effect poor ...
... hold . Casual observation of ( 10 ) suggests that if investors with large risk tolerance have little precision in their assessments , and vice versa , then the variance in the consensus belief will be large , because in effect poor ...
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adjustment Amer analysis assets assumed assumption average behavior budget capital coefficient constant constraint consumer consumer's surplus consumption cost countries curve demand functions differential distribution earnings Econ Economic effect efficient elasticity equal equation equilibrium estimates exchange rate expected utility Figure firm foreign exchange market given hypothesis implies income increase indifference curve indirect utility function individual industry inflation interest rate investment investor labor force lagged LDCs marginal marginal utility maximize measure ment monetary money illusion money supply Nash equilibrium nomic optimal output P₁ paper parameters percent period positive preferences price level problem production profits quantity ratio rational expectations regression regulation relative risk aversion Section sector share spot price statistically substitution supply Table tariff Theory tion tive unemployment United University utility function variables wage welfare workers yields zero