Explore intertemporal equilibrium, an essential economic concept that analyzes how current and future decisions affect ...

We test a conditional asset pricing model that includes long‐term interest rate risk as a priced factor for four asset classes—large stocks, small stocks, and long‐term Treasury and corporate bonds.

Modern neoclassical business cycle theories posit that the observed fluctuations in consumption and employment correspond to decisions of an optimizing representative individual. We estimate three ...

Intertemporal choice examines how individuals weigh rewards available at different points in time, while delay discounting quantifies the tendency to devalue future rewards in favour of more immediate ...

How does the anticipated connectedness between one’s current and future identity help explain impatience in intertemporal preferences? The less consumers are closely connected psychologically to their ...