The real rate of interest: a theoretical analysis
从经济增长模型视角审视实际利率理论，回顾了索洛模型、拉姆齐模型等，指出这些模型在解释关键变量上的不足，适合对利率理论感兴趣的宏观经济学研究者。
A theoretical view of the real rate of interest, such as is provided by models of economic growth, is presented. That question is of compelling interest, even though the issues are so long-run as to be of little practical importance. Models reviewed include the Solow model, and its disaggregated extension by Stiglitz; endogenous growth models; the Ramsey model; and the Diamond capital model. All these models are less than fully adequate to answer key questions. Solow-type models are good at demonstrating the influence of grand changes, such as alterations in saving rates, or demographic changes. However key variables - particularly the saving rate - are treated as constants. The Ramsey model, on the other hand, assumes in effect that a major influence on the real rate is a given impatience parameter. The Diamond model is ideal for economies dominated by pension fund saving, but does not describe any actual economy.