On 12/1/2003 Wei Dai wrote:
I argue that (a) can be an equilibrium. We are rather smart in some areas,
but the mechanisms in us that allow that are not up to the task of faking
being dumb in other areas - we are actually dumb in those other
areas. This
is/was an equilibrium because people
--- John Morrow [EMAIL PROTECTED] wrote:
By the way, there have been times and places where the measured real
interest rate was essentially zero; I think this happened in Japan in
the 1990s.
So the question is, why at the zero rate was there not greater demand to
borrow? The answer may well
--- Tigger [EMAIL PROTECTED] wrote:
I support an alternate way for the gov't to support housebuying:
50% tax credit on house payments (interest and principle), with
some lifetime maximum ($2, 3, 400 000?).
Tom
This tax-credit subsidy will add to demand and further increase the price
of
In a message dated 12/7/03 4:03:55 PM, [EMAIL PROTECTED] writes:
So the question is, why at the zero rate was there not greater demand to
borrow? The answer may well be that the expected future inflation and
real
interest rates were highly uncertain, and the transaction costs of getting
and
In a message dated 12/7/03 12:40:04 PM, [EMAIL PROTECTED] writes:
Your story does have a certain plausibility. But you'd need to argue that
the huge increase in IQ that has been documented during this last century
isn't really an increase in intelligence. And doing that makes it harder
to take
