The real interest rate and aggregate supply
分析预期实际利率如何影响总供给变量，模型强调生产时间和资本利用率可变，预测实际利率上升会降低就业、资本利用率、劳动生产率、产出和投资，并用加拿大数据检验。
This paper analyzes the effects of the anticipated real interest rate on aggregate supply variables, in a model where time-to-produce and variable capital utilization play a crucial role. The potential importance of the present mechanism for business cycle theory lies in its ability to generate positive co-movements of employment, capital utilization, labor productivity, output and investment. These variables are predicted to be affected negatively by the real interest rate. Reduced forms for output and employment are derived and tested with Canadian data, taking estimates of the real interest rate prevailing in the United States as the relevant exogenous price.