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Substitution over Time in Work and Consumption

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NBER1988-12-01 更新2025-01-04 收录
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https://www.nber.org/papers/w2789
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Sir John Hick's Value and Capital provided the theoretical foundation for an important element of modern macroeconomics. Intertemporal substitution - deferral or acceleration of economic activity in response to the real interest rate and other incentives - is the mechanism generally relied upon in
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1988-12-01
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