Martellini, Paolo; Menzio, Guido; Visschers, Ludo - 2019
UE and the EU rates. In the data, though, the UE and EU rates move against each other at business cycle frequency. Using …, fluctuations in the UE and EU rates at the business cycle frequency are nearly identical across age groups. … which the UE and the EU rates are endogenous, we show that an increase in the discount rate leads to a decline in both the …