G, Bivin David - In: The B.E. Journal of Macroeconomics 10 (2010) 1, pp. 1-32
Maccini, Moore, and Schaller (2004, hereafter MMS) recently uncovered a long-run inverse relationship between interest rates and finished goods in a number of nondurables industries and the nondurables sector overall. Their primary innovation is a regime-switching model of the real interest...