Luo, Yulei; Smith, William T.; Zou, Heng-fu - China Economics and Management Academy, Central … - 2011
In a recent paper [Luo, Smith, and Zou (2009)] we showed that the spirit of capitalism could in theory resolve the two … transitory and permanent shocks to income, the other with a stochastic interest rate ¡ª that where the spirit of capitalism can …