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Short-run behavior of labor productivity: tests of the motivation hypothesis

โœ Scribed by David Stern; Daniel Friedman

Book ID
117266473
Publisher
Elsevier Science
Year
1980
Weight
778 KB
Volume
9
Category
Article
ISSN
0090-5720

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This paper explains the contradictory findings from long-run and short-run tests of the rational expectations hypothesis of the term structure. Recent research suggests that, while the long-run tests support the theory, the short-run tests do not. Our results which are based on US Treasury bills rat