Title of article
The Revival of the Expectations Hypothesis of the US Term Structure of Interest Rates
Author/Authors
Hsu، نويسنده , , Chiente; Kugler، نويسنده , , Peter ، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 1997
Pages
6
From page
115
To page
120
Abstract
US interest rate data from 1987 to 1995 show a substantial predictive power of the spread for the short rate in line with the expectations hypothesis. The estimation of a McCallum policy reaction model supports our conjecture that this striking result can be attributed to the adoption of the spread as an indicator for US monetary policy since the late eighties. © 1997 Elsevier Science S.A.
Keywords
Policy Response , Predictive power , Tenn structure
Journal title
Economics Letters
Serial Year
1997
Journal title
Economics Letters
Record number
434308
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