Elliott waves and Cambridge

Doug Henwood dhenwood at panix.com
Fri Sep 6 09:41:51 PDT 2002


Bradford DeLong wrote:


>Will you allow me to say that lowering the interest rate is likely
>to raise the number and aggregate total cost of investment projects
>with positive risk-adjusted net present value?

In theory, but why then do changes in interest rates do so little to explain aggregate investment?

Doug



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