On the constancy of real interest rates |
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Authors: | Kajal Lahiri |
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Institution: | State University of New York, Albany, NY 12222, USA |
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Abstract: | In the context of a small structural model, we show that the autocorrelation and the variance of the ex ante real rate of interest can be uniquely estimated; the random forecasting errors need not confound the problem of identifying variations in the real rate. |
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