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dc.contributor.authorArnwine, N.en_US
dc.contributor.authorYigit, T. M.en_US
dc.date.accessioned2015-07-28T11:58:18Z
dc.date.available2015-07-28T11:58:18Z
dc.date.issued2008en_US
dc.identifier.issn0165-1765
dc.identifier.urihttp://hdl.handle.net/11693/11670
dc.description.abstractExpected consumption growth increases the real interest rate as one tries to smooth consumption over time. We demonstrate that placing it in the Fisher relation 1) is consistent with the Euler equation governing the purchase of nominal bonds, 2) explains observed procyclicality of the real interest rate. 3) is supported empirically, and 4) provides an alternative method for estimating the consumer's degree of relative risk aversion. (C) 2008 Elsevier B.V. All rights reserved.en_US
dc.language.isoEnglishen_US
dc.source.titleEconomics Lettersen_US
dc.relation.isversionofhttps://dx.doi.org/10.1016/j.econlet.2008.08.002en_US
dc.subjectFisher relationen_US
dc.subjectInterest rateen_US
dc.subjectConsumption growthen_US
dc.titleWhat Fisher knew about his relation, we sometimes forgeten_US
dc.typeArticleen_US
dc.departmentDepartment of Economicsen_US
dc.citation.spage193en_US
dc.citation.epage195en_US
dc.citation.volumeNumber101en_US
dc.citation.issueNumber3en_US
dc.identifier.doi10.1016/j.econlet.2008.08.002en_US
dc.publisherElsevier BVen_US
dc.identifier.eissn1873-7374


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