1 option
Consumption, Asset Markets, and Macroeconomic Fluctuations / Robert J. Shiller.
- Format:
- Book
- Author/Creator:
- Shiller, Robert J.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w0838.
- NBER working paper series no. w0838
- Language:
- English
- Subjects (All):
- Capital.
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 1982.
- Cambridge, Mass. : National Bureau of Economic Research, 1982.
- Summary:
- A broad exploratory data analysis is conducted to assess the promise of a kind of model in which long-term asset prices change through time primarily due to consumption related changes in the rate of discount. Aggregate consumption data are used to infer ex-post marginal rates of substitution. Prices of stocks, bonds, short debt, land and housing are examined for the period 1890 to 1980, Methods are explored of evaluating this kind of model in the absence of accurate data on consumption.
- Notes:
- Print version record
- 1982.
- Includes bibliographical references.
The Penn Libraries is committed to describing library materials using current, accurate, and responsible language. If you discover outdated or inaccurate language, please fill out this feedback form to report it and suggest alternative language.