Dotsey, Michael; Lantz, Carl; Scholl, Brian - In: Journal of Money, Credit and Banking 35 (2003) 1, pp. 91-110
This paper presents new facts regarding the behavior of the ex-ante real rate of interest. These facts are notably different from conventional wisdom about the cyclical properties of the real rate. In particular, we find that the ex-ante real rate is contemporaneously positively correlated with...