The permanent income hypothesis and the real interest rate |
| |
Authors: | NGregory Mankiw |
| |
Institution: | Massachusetts Institute of Technology, Cambridge, MA 02139, USA |
| |
Abstract: | A test of the permanent income hypothesis that allows a variable and uncertain real interest rate is derived. Using quarterly post-war U.S. data, the permanent income hypothesis is rejected. |
| |
Keywords: | |
本文献已被 ScienceDirect 等数据库收录! |
|