money and various measures of aggregate output. Our second example investigates the possibility that temporal aggregation …

of these is the large and growing literature on precautionary saving that examines how consumption growth and saving … expected consumption growth and uncertainty in consumption growth, with a slope coefficient that is a function of the … (and the coefficient of relative risk aversion) from regressions of consumption growth on uncertainty in consumption growth …

This paper studies managerial decisions about investment in long-run projects in the presence of imperfect information … imperfection present and the direction of the distortion. When investors cannot observe the level of investment in long …-run projects, suboptimal investment will be induced. When investors can observe investment but not its productivity, however, an …

This paper aims to provide a stochastic, rational expectations extension of Tobin's "Money and Income; Post Hoc Ergo … Proper Hoc?". It is well-known that money may Granger-cause real variables even though the joint density function of the real … of money to Granger-cause real variables does not preclude a stabilization role of money. In a number of examples the …

optimizing behavior under rational expectations, both on the part of the purchasers of goods and upon that of the sellers. The …