The American Economic Review, Volume 85,Edições 1-3American Economic Association, 1995 |
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Página 191
... expected real interest rate r ,. Because in- flation is unpredictable , the real return is not known to the household at t - 1 . Ac- cordingly , most researchers include the ex post return in ( 2 ) and instrument using lagged ex post ...
... expected real interest rate r ,. Because in- flation is unpredictable , the real return is not known to the household at t - 1 . Ac- cordingly , most researchers include the ex post return in ( 2 ) and instrument using lagged ex post ...
Página 199
... expected wage growth is significantly correlated with con- sumption growth , contrary to the LCH / PIH . Second ... expected after - tax real return requires a measure of agents ' expected inflation between March of year -1 and March of ...
... expected wage growth is significantly correlated with con- sumption growth , contrary to the LCH / PIH . Second ... expected after - tax real return requires a measure of agents ' expected inflation between March of year -1 and March of ...
Página 225
... expected future bill rates , R * , and linking current with expected future inflation , * . But the bill rate is negatively correlated with future values of inflation ( beyond five quarters ) , while inflation is positively correlated ...
... expected future bill rates , R * , and linking current with expected future inflation , * . But the bill rate is negatively correlated with future values of inflation ( beyond five quarters ) , while inflation is positively correlated ...
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Evidence? | 17 |
Dan Kovenock and Gordon Phillips | 403 |
The Effect of Institutions on Economic Behavior | 409 |
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aggregate analysis assume average behavior benefits bill rate Bretton Woods Cambridge cartels central bank cheap talk choice coefficient consumption contract correlation cost countries deutsche mark drug effect employment equation estimates evidence expected fiat money firms forecast genotype growth households human capital hypothesis implies incentive income increase individual industry inflation investment Journal of Economic labor market lagged liquidity constraints marginal Medicaid ment minimum wage monetary policy monomorphic Nash equilibrium National nomic nontraded null hypothesis optimal output paper payoff function percent player political population preferences problem quota ratio reduce regression relative Research response revenue risk Robert sample sector shocks significant social Solow residuals spending statistically strategy studies supply shocks symmetric Nash Table tax rates theory tion tive trade University utility variables voters welfare workers y₁ zero