Consumer Spending and the After-Tax Real Interest Rate

This paper examines the interaction between consumer durable goods and consumer non-durable goods in determining the responsiveness of total expenditure to the after-tax real interest rate. The introduction of consumer durables into the consumer's decision problem can have important effects on the

本文探讨了耐用消费品与非耐用消费品之间的相互作用在决定总支出对税后实际利率的响应度方面的影响。将耐用消费品纳入消费者决策问题会对……产生重要影响。