The Discounted Euler Equation: A Note
收藏NBER2016-04-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w22129
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资源简介：
We present a simple model with income risk and borrowing constraints which yields a discounted Euler equation. This feature of the model mutes the extent to which news about far future real interest rates (i.e., forward guidance) affects current outcomes. We show that this simple model approximates
提供机构：
美国国家经济研究局
创建时间：
2016-04-01
