Time and money
Money's value depends on when it is held. A dollar today and a dollar in twenty years buy different things and carry different risks, so a plan dates every amount.
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What it rests on, and what rests on it
Rests on it
Where it is used
No article names it yet.
In the model
- The model's assumption “CPI long-run mean”
- The model's assumption “Inflation persistence & shock volatility”
Sources
- Irving Fisher, The Theory of Interest, 1930.