Journal of Economic Literature, Volumen34,Temas1-2American Economic Association, 1996 |
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Página 47
... consumption growth is high : around 1.8 percent per year . Finally , the covariance of per cap- ita consumption growth with stock re- turns is only slightly bigger than the co- variance of per capita consumption growth with bond returns ...
... consumption growth is high : around 1.8 percent per year . Finally , the covariance of per cap- ita consumption growth with stock re- turns is only slightly bigger than the co- variance of per capita consumption growth with bond returns ...
Página 57
... consumption , the individual knows that his desire for consumption will be higher in the future because con- sumption is habit forming ; hence , the in- dividual's demand for savings increases relative to the preference specification ...
... consumption , the individual knows that his desire for consumption will be higher in the future because con- sumption is habit forming ; hence , the in- dividual's demand for savings increases relative to the preference specification ...
Página 59
... consumption streams . As a result , their consumption streams will look similar to each other and to per cap- ita consumption . However , in reality , it does not appear easy for individuals to directly insure themselves against all ...
... consumption streams . As a result , their consumption streams will look similar to each other and to per cap- ita consumption . However , in reality , it does not appear easy for individuals to directly insure themselves against all ...
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