The persistence in real interest rates: does it solve the intertemporal consumption behavior puzzle?
This paper investigates the stationarity behavior of the ex-post real interest rates (RIRs) for 12 Asian countries. Formal tests conducted indicate that high persistence is an intrinsic characteristic in the majority of the RIRs. We consider local-persistent model to assess the degree of persistence...
| Главные авторы: | , , |
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| Формат: | Статья |
| Язык: | English |
| Опубликовано: |
Elsevier
2017
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| Online-ссылка: | http://psasir.upm.edu.my/id/eprint/63498/1/The%20persistence%20in%20real%20interest%20rates%20Does%20it%20solve%20the%20intertemporal%20consumption%20behavior%20puzzle.pdf |