Measuring interest rates as determined by thrift and productivity
By: Woon Gyu Choi and Yi Wen.
Contributors: Wen, Yi.; Federal Reserve Bank of St. Louis.
Series: Working paper ;; 2005-037A; Working paper (Federal Reserve Bank of St. Louis : Online) ;; 2005-037A.
Publisher: Federal Reserve Bank of St. Louis
Published: 2005
Place of publication: [St. Louis, Mo.]
Language: eng
Format: Electronic resource
Subjects: Interest rates.
Description: "This paper investigates the behavior of short-term real and nominal rates of interest by combining consumption-based and production-based models into a single general equilibrium framework.  Based on the theoretical nonlinear relationships that link interest rates to both the marginal rates of substitution and transformation in a monetary production economy, we develop an estimation and simulation procedure to generate historical time series of interest rates.  We find that the predictions of interest rates based on a general equilibrium theory are partially consistent with US data"--Federal Reserve Bank of St. Louis web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 7/12/2005.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.