The Term Structure of Real Interest Rates: Theory and Evidence from (2007)
Alex Monge, Marcelo Navarro, Antti Ripatti, Thomas J. Sargent, Pietro Veronesi
This paper studies the behavior of the default-risk free real term structure and term premia in two general equilibrium endowment economies with complete markets but without money. In the first...
ENDOGENOUS CREDIT CONSTRAINTS AND HUMAN CAPITAL FORMATION
This paper examines the impacts of endogenous credit constraints on labor supply, the accumulation of human capital, and consumption across agents that are heterogeneous in age, ability, and initial...