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The Research Department of the Federal Reserve Bank of Atlanta publishes a working paper series to convey the research of staff economists and visiting scholars and stimulate professional discussion and exploration of economic and financial subjects.

2012

Making the Case for a Low Intertemporal Elasticity of Substitution R. Anton Braun and Tomoyuki Nakajima Working Paper 2012-1 (January) The responsiveness of consumption growth to changes in expected interest rates plays a central role in dynamic decision making. The authors provide some new evidence that this elasticity is small.

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