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The Real Rate of Interest: A Theoretical Analysis.

Abstract:

A theoretical view of the real rate of interest, such as is provided by models of economic growth, is presented. That question is of compelling interest, even though the issues are so long-run as to be of little practical importance. Models reviewed include the Solow model, and its disaggregated extension by Stiglitz; endogenous growth models; the Ramsey model; and the Diamond capital model. All these models are less than fully adequate to answer key questions. Solow-type models are good at d...

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Journal:
Oxford Review of Economic Policy More from this journal
Volume:
15
Publication date:
1999-01-01
ISSN:
0266-903X
UUID:
uuid:05b3e28f-235c-4714-95e4-d29d117a11ee
Local pid:
oai:economics.ouls.ox.ac.uk:12804
Deposit date:
2011-08-15

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