Publication:
Real Returns on Government Debt: A General Equilibrium Quantitative Exploration

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dc.affiliation.dptoUC3M. Departamento de Economíaes
dc.contributor.authorDíaz-Giménez, Javieres
dc.contributor.authorPrescott, E. C.es
dc.date.accessioned2014-05-23T12:05:40Z
dc.date.available2014-05-23T12:05:40Z
dc.date.issued1997
dc.description.abstractWe extend and apply computable general equilibrium methods to the study of economies with both aggregate uncertainty and uninsured household-specific uncertainty. In our economies the government issues two types of assets: a small denomination, non-interest bearing asset, which we call currency, and a large denomination, interest bearing asset, which we call T-bills. We find that a real interest rate behavior similar to that observed in the U.S. can be sustained as equilibrium behavior in our class of economies. We also find that policy induced real interest rate changes that are perceived as being permanent have significant real effects and that these effects take a few years to be fully realized.en
dc.description.statusPublicadoes
dc.format.mimetypeapplication/pdf
dc.identifier.bibliographicCitationEuropean Economic Review, (1997), 41 (1), p. 115-37en
dc.identifier.doi10.1016/0014-2921(95)00028-3es
dc.identifier.issn0014-2921
dc.identifier.publicationfirstpage115
dc.identifier.publicationissue1
dc.identifier.publicationlastpage137
dc.identifier.publicationtitleEuropean Economic Reviewen
dc.identifier.publicationvolume41
dc.identifier.urihttps://hdl.handle.net/10016/4955
dc.language.isoengen
dc.publisherElsevieren
dc.relation.publisherversionhttp://dx.doi.org/10.1016/0014-2921(95)00028-3
dc.rights© Elsevier B.V.en
dc.rights.accessRightsopen accessen
dc.subject.ecienciaEconomíaes
dc.subject.otherReal returnsen
dc.subject.otherLiquidity constraintsen
dc.subject.otherHeterogeneous agentsen
dc.subject.otherQuantitive general equilibriumen
dc.titleReal Returns on Government Debt: A General Equilibrium Quantitative Explorationen
dc.typeresearch article*
dc.type.hasVersionAM*
dc.type.reviewPeerRevieweden
dspace.entity.typePublication
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