Consumption, Income, and Interest Rates: Reinterpreting the Time Series Evidence

1 January 1989

journal article
research article
Published by JSTOR in NBER Macroeconomics Annual

Vol. 4, 185
https://doi.org/10.2307/3584973

Abstract

This paper proposes that the time-series data on consumption, income, and interest rates are best viewed as generated not by a single representative consumer but by two groups of consumers. Half th...

Keywords

INTEREST RATES
EXTREMELY
MODEL
CONSUMPTION
INCOME
EXPECTED CHANGES
CONSUMERS
ECONOMIC POLICY

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