It is difficult to predict what will happen to long-run
averages of real interest rates in the United States and abroad.
If all price series are stationary, prices are in long-run
equilibrium and simple linear regression can be used to analyze the short-run dynamics.
Similarly, for LRR, our results include ex-post characterizations of movements in the long-run
growth rate and volatility.
If it is found that firms tend to issue more equity when interest rates are low, they may have lower leverage ratios (i.e., debt to assets ratios) in the long-run
. Therefore, the hypothesis of interest regarding the relation between the market conditions at the time of the offering and the issuing firm's capital structure is;
which has the property that the representative consumer just doesn't care enough about those long-run
risks to pump up the returns on those high book-to-market portfolios.
More specifically, we propose and define four distinct time periods for macroeconomics: The extreme short-run, the short-run, the long-run
, and the extreme long-run
Lousy economic performance currently has depressed stocks, but the market has some optimism about the long-run
outlook and hasn't given up on the idea that growth in productivity will return in the years ahead.
Because the purchase of a home is a long-term investment, we find that the impact on home prices is negligible, similar to the long-run
impact on rents.
In models in which nominal variables follow integrated variables processes, long-run
neutrality can be defined and tested without complete knowledge of the behavioral model.
Bentzen, Jan and Tom Engsted, "On the Estimation of Short- and Long-Run
Elasticities in U.S.
Also available are stainless mold and holder steels for low-maintenance, long-run
In the long-run
, income decreases from VPS combined with BBC will lead to provider opposition to caps.
OBTAINING ESTIMATES FOR THE STANDARD ERRORS OF LONG-RUN
PARAMETERS This note provides a practical illustration of the reparameterisation described by Wickens and Breusch (1988) which enables estimates of long-run
coefficients and their standard errors to be derived from an autoregressive distributed lag equation.
If you are going to encourage a long-run
growth, for example, debtfinancing has a great advantage, since as long as a corporation meets its interest payments, it is free to sacrifice short-term profits for long-term productivity.
On the premise that effective communication is even more crucial near price stability, I will focus today on how an incremental move toward inflation targeting, in the form of the announcement of a long-run
inflation objective, might help the Fed communicate better and perhaps improve policy decisions as well, without the costs feared by those concerned about a potential loss of flexibility.