The expectations hypothesis of the term structure in the Euro area

dc.contributor.author	Camarero, Mariam
dc.contributor.author	Ordóñez, Javier
dc.contributor.author	Tamarit, Cecilio
dc.date.accessioned	2010-08-17T14:10:41Z
dc.date.available	2010-08-17T14:10:41Z
dc.date.issued	2008
dc.identifier.issn	15452921
dc.identifier.uri	http://hdl.handle.net/10234/17653
dc.description.abstract	This paper tries to ascertain whether the expectations hypothesis of the term structure of interest rates was fulfilled for the EMU countries in the period previous to its launching. To this end, we employ individual country data for the Euro area. Using pooled and panel cointegration techniques we conclude that there is an equilibrium relationship linking the long and the short-run interest rates for both the individual countries and the panel as a whole. Due to the homogeneity found in the short-long term interest rates relationship across countries, the fears raised about the use of area-wide aggregates by the ECB if not discarded need to be, at least, qualified
dc.format.extent	42005
dc.language.iso	eng
dc.publisher	Economics bulletin
dc.relation.isPartOfSeries	Economics bulletin; vol. 3, núm. 3
dc.rights.uri	http://rightsstatements.org/vocab/CNE/1.0/	*
dc.subject.other	Euro
dc.subject.other	Comunitat Europea, Països de la -- Política monetària
dc.subject.other	Economia
dc.title	The expectations hypothesis of the term structure in the Euro area
dc.type	info:eu-repo/semantics/article
dc.rights.accessRights	info:eu-repo/semantics/openAccess