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Author : Robert E. Cumby
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (133 download)
Download or read book The International Linkage of Real Interest Rates : the European-US Condition written by Robert E. Cumby and published by . This book was released on 1984 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mehdi S. Monadjemi
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.3/5 ( download)
Download or read book International Interest Rates Linkage written by Mehdi S. Monadjemi and published by . This book was released on 1996 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert E. Cumby
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.3/5 ( download)
Download or read book The International Linkage of Real Interest Rates written by Robert E. Cumby and published by . This book was released on 1984 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Casual observation indicates that in recent years real interest rates in the United States appear to have risen sharply and have remained high relative to historical standards. Many observers have claimed that these high real rates have been transmitted abroad and have lead to high real rates in the rest of the industrialized countries. Concern over the level of real rates has been widespread in the analyses by economic policymakers both in Europe and in the United States. In this paper we present evidence on several questions regarding the movement in short term real interest rates in eight countries that have been raised by the recent policy debates in Europe and the United States: Have ex ante real rates in the United States and Europe been high during recent years? Has there been a link between U.S. real rates and those in other countries? Can this link be quantified?The basic finding in this paper is that real rates have climbed dramatically from the 1970s to the 1980s in both the European countries and the United States. Indeed, real interest rates in the United States are currently at high levels unprecedented in the post war period, which rival the levels that occurred during the Great Depression. Complaints that real interest rates in the United States are exceedingly high seem to be well justified. There is also strong evidence that there is a positive association between movements in U.S. real rates and those in Europe. However,European real rates typically do not move one-for-one with U.S. real rates,still leaving open the possibility that European monetary policy can influence domestic economic activity.
Author : Frederic S. Mishkin
Publisher :
ISBN 13 :
Total Pages : 19 pages
Book Rating : 4.:/5 (753 download)
Download or read book The International Linkage of Real Interest Rates written by Frederic S. Mishkin and published by . This book was released on 1986 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: Casual observation indicates that in recent years real interest rates in the United States appear to have risen sharply and have remained high relative to historical standards. Many observers have claimed that these high real rates have been transmitted abroad and have lead to high real rates in the rest of the industrialized countries. Concern over the level of real rates has been widespread in the analyses by economic policymakers both in Europe and in the United States. In this paper we present evidence on several questions regarding the movement in short term real interest rates in eight countries that have been raised by the recent policy debates in Europe and the United States: Have ex ante real rates in the United States and Europe been high during recent years? Has there been a link between U.S. real rates and those in other countries? Can this link be quantified?The basic finding in this paper is that real rates have climbed dramatically from the 1970s to the 1980s in both the European countries and the United States. Indeed, real interest rates in the United States are currently at high levels unprecedented in the post war period, which rival the levels that occurred during the Great Depression. Complaints that real interest rates in the United States are exceedingly high seem to be well justified. There is also strong evidence that there is a positive association between movements in U.S. real rates and those in Europe. However, European real rates typically do not move one-for-one with U.S. real rates, still leaving open the possibility that European monetary policy can influence domestic economic activity
Author : Mitsuhiro Fukao
Publisher :
ISBN 13 :
Total Pages : 110 pages
Book Rating : 4.:/5 (842 download)
Download or read book International Linkage of Interest Rates written by Mitsuhiro Fukao and published by . This book was released on 1982 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Suk-Joong Kim
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (318 download)
Download or read book International Linkages and Macroeconomic News Effects on Interest Rate Volatility written by Suk-Joong Kim and published by . This book was released on 1998 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book International Interest-Rate and Price-Level Linkages Under Flexible Exchange Rates written by and published by . This book was released on 1985 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In an open economy, the scope for activist stabilization policy depends on the nature of the linkages between domestic and international markets for goods and assets. Two important relationships--purchasing power parity and uncovered interest-rate parity--have received extensive empirical attention in recent years and are fundamental building blocks of several empirical ex- change rate models. This paper reviews and extends recent econometric findings on these two classical parity relationships and on their corollary, the international equality of expected real interest rates. Econometric tests assuming rationality of expectations are on the whole unfavorable to the classical parity relationships: with few exceptions, they are strongly rejected. A central theme in the review of empirical work is the conditional heteroskedasticity of inflation and exchange rate forecast errors and the bias this statistical problem may impart to tests of inter- national parity relationships. The paper proposes and implements a test for conditional heteroskedasticity which in many cases produces strong evidence that the problem is indeed important.
Author : Philip Inyeob Ji
Publisher :
ISBN 13 : 9780733421990
Total Pages : 29 pages
Book Rating : 4.4/5 (219 download)
Download or read book International Linkage of Real Interest Rates written by Philip Inyeob Ji and published by . This book was released on 2005 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John Murray
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.:/5 (318 download)
Download or read book International Interest Rate Linkages and Monetary Policy written by John Murray and published by . This book was released on 1989 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : J. T. Kneeshaw
Publisher :
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.3/5 (243 download)
Download or read book International Interest Rate Relationships written by J. T. Kneeshaw and published by . This book was released on 1985 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Costas I. Karfakis
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (318 download)
Download or read book Interest Rate Linkages Within the European Monetary System written by Costas I. Karfakis and published by . This book was released on 1990 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: Estudio sobre la conexion entre los tipos de interes de los paises miembros del SME. Utiliza para ello un analisis bivariante de los tipos de interes de seis paises del SME, entre ellos Alemania; investigando la informacion contenida en los tipos de interes de Alemania sobre los tipos de interes futuros de los otros estados miembros. Los resultados muestran la dependencia de los tipos de interes en los paises miembros del SME respecto a los de Alemania, siendo esta relacion solamente unidireccional, lo que resalta el papel dominante de Alemania en el SME sin necesidad de considerar para ello las restricciones a los movimientos de capital.
Author : Kiyotaka Sato
Publisher :
ISBN 13 :
Total Pages : 58 pages
Book Rating : 4.:/5 (318 download)
Download or read book Real Interest Rate Linkages in the Asian-Pacific Region written by Kiyotaka Sato and published by . This book was released on 2004 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Reuven Glick
Publisher :
ISBN 13 :
Total Pages : 50 pages
Book Rating : 4.:/5 (321 download)
Download or read book Financial Liberalization in the Pacific Basin written by Reuven Glick and published by . This book was released on 1988 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John F. Bilson
Publisher : University of Chicago Press
ISBN 13 : 0226050998
Total Pages : 542 pages
Book Rating : 4.2/5 (26 download)
Download or read book Exchange Rate Theory and Practice written by John F. Bilson and published by University of Chicago Press. This book was released on 2007-12-01 with total page 542 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume grew out of a National Bureau of Economic Research conference on exchange rates held in Bellagio, Italy, in 1982. In it, the world's most respected international monetary economists discuss three significant new views on the economics of exchange rates - Rudiger Dornbusch's overshooting model, Jacob Frenkel's and Michael Mussa's asset market variants, and Pentti Kouri's current account/portfolio approach. Their papers test these views with evidence from empirical studies and analyze a number of exchange rate policies in use today, including those of the European Monetary System.
Author : Liam Aspin
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (11 download)
Download or read book International Interest Rate Linkage written by Liam Aspin and published by . This book was released on 2001 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :
Publisher :
ISBN 13 :
Total Pages : 317 pages
Book Rating : 4.:/5 (199 download)
Download or read book International Interest Rate Linkages and Monetary Policy written by and published by . This book was released on 1989 with total page 317 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mbodja Mougoue
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book International Linkages Between Short-Term Real Interest Rates written by Mbodja Mougoue and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Whereas previous studies have focused on the causal relation between nominal interest rates, this paper examines causal relationships between real rates for the United States and six other countries. Based on evidence from our full sample, we find that U.S. and foreign interest rates are not highly informative for one another. This would suggest that even if the United States is regarded as a large player in international financial markets, this does not necessarily translate into the transmission of U.S. real interest rates to other countries. However, an examination of various sub- periods of our sample reveals that this conclusion may be sensitive to the U.S. monetary policy regime. We also report results for linkages between European countries which indicate that Germany provides some information on real interest rates in France and the United Kingdom but not in Italy. An analysis of various sub-periods for the European countries show that the result for France is not robust, with German rates having an impact only in the first period through March 1983. This latter evidence does not provide strong support for the hypothesis that Germany's monetary policy plays a dominant role in the European Monetary System. In general, we would argue that domestic factors play a prominent role in determining real interest rates, quite independently from the influence of interest rates from abroad.
