External macroeconomic factors and the link between short- and long-run European interest rates: a note
comunitat-uji-handle:10234/9
comunitat-uji-handle2:10234/8643
comunitat-uji-handle3:10234/8644
comunitat-uji-handle4:
INVESTIGACIONMetadatos
Título
External macroeconomic factors and the link between short- and long-run European interest rates: a noteFecha de publicación
2009-04Editor
Southern Economic AssociationISSN
0038-4038Cita bibliográfica
Southern economic journal (April 2009), vol. 75, no. 4, 1212 1219Tipo de documento
info:eu-repo/semantics/articleVersión de la editorial
http://www.southerneconomic.org/Versión
info:eu-repo/semantics/publishedVersionPalabras clave / Materias
Resumen
This article analyzes the long-run relationships linking long- and short-run interest rates for the Euro-wide aggregated variables. To this end, we extend the set of variables traditionally involved in the Campbell ... [+]
This article analyzes the long-run relationships linking long- and short-run interest rates for the Euro-wide aggregated variables. To this end, we extend the set of variables traditionally involved in the Campbell and Shiller (1987) framework for the term structure to add external macro variables (the exchange rate, U.S. inflation, and U.S. short-run interest rates). Our results support the expectations hypothesis and also stress the importance of accounting for foreign economy influences on European monetary policy, namely, the real exchange rate of the American dollar as well as real interest rates [-]
Derechos de acceso
© 2009 Southern Economic Association
http://rightsstatements.org/vocab/InC/1.0/
info:eu-repo/semantics/openAccess
http://rightsstatements.org/vocab/InC/1.0/
info:eu-repo/semantics/openAccess
Aparece en las colecciones
- ECO_Articles [692]