Long-term interest rates 143
Do Long-Term Interest Rates Overreact to Short-Term Interest Rates?
... The previous section demonstrates the failure of the expectations theory of the term structure. The alternative hypothesis, that longer rates respond too much to short rates, cannot ex[r] ...
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Response of Long-Term Interest Rates to Overnight Interest Rates in the United States
... the long-term interest rates is a practical problem for private and public ...estimate interest rates for purposes of assigning value to long-term obligations such ...
13
The Determinants of Real Long-Term Interest Rates
... Real long-term interest rates are key determinants of longer-term saving and investment decisions, while their influence on business spending, housing investment and the consumption of ...
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Monetary Policy and Long-term Interest Rates
... restrictions. Christiano, Eichenbaum and Evans (1999) provide an excellent survey of the recent applications of VAR in the empirical studies of the monetary policy effects. Nonetheless, a VAR is a reduced-form system ...
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Government Debt and Long-Term Interest Rates
... their rates of return are equalized in equilibrium, we use real long-term interest rates on government bonds as the dependent ...Real long-term interest ...
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Monetary policy and long-term interest rates
... To illustrate, consider an aggressive increase in the funds rate intended to reduce the trend rate of inflation. Such a tightening can shift both components of the bond rate. If the Fed’s disinflation policy is credible, ...
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Long-term interest rates, wealth and consumption
... And long-term interest rates may be less important than the model suggests if there is uncertainty about the future short rates that pin them ...of term premia at ...
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Monetary policy shocks and long-term interest rates
... in long bond yields is caused by exoge- nous shocks to the bond yields ...on long-bond yields during this period is the shock to the change in sensitive materials ...
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Monetary policy actions and long-term interest rates
... and long-term rates can be found in the immediate reaction of long-term rates in the days surrounding announcements of policy ...which long-term rates fell ...
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Explaining the increased variability in long-term interest rates
... of long-term rates, but the shift is small and the exact magnitude is difficult to determine because of sampling ...of long-term interest ...
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A Simple Account of the Behavior of Long-Term Interest Rates
... In the 1955-79 period, it was that smaller part of the spread between long and short rates which was not explained by current and lagged short rates that caused excess volatility in hold[r] ...
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Unconventional Monetary Policy and Long-Term Interest Rates
... “exit” of the LSAP program, and thereby generate an upward revision to their projected path of future SOMA balance and the measure. For instance, the Federal Reserve did not con- duct any active LSAP-related bond ...
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Monetary Policy and Long-Term Interest Rates in South Africa
... market interest rates, the relationship between monetary policy actions and long-term interest rates is not ...the term structure of interest rates, changes ...
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Budget deficit and long-term interest rates in South Africa
... the long- term interest rate and budget deficit in the context of the loanable funds theory of interest ...theory, interest rate is determined in terms of the demand and supply of funds ...
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Monetary Policy And Long-Term Interest Rates In South Africa
... and long-term interest rates to monetary, demand and supply shocks for South Africa over the quarterly period 1986 to ...with long-run ...and long-term interest ...
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The Aggregate Demand Effects of Short- and Long-Term Interest Rates
... of long-run inflation expectations and long- term interest rates (a finding related to that of Kozicki and Tinsley ...on long-term ...is long, and the transitory ...
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Short-Term and Long-Term Interest Rates in a Monetary Model of a Small Open Economy
... Thereafter, with the nominal money supply fixed at the new level and the price level continuing to rise, the real money stock falls continuously and the short— term nominal interest rate[r] ...
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Short and long term interest rates and the effectiveness of monetary and macroprudential policies
... short term or long term. The short-term rate would be directly linked to the policy ...The long-term one would be linked to expected short-term ...in ...
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FURTHER THOUGHTS ON LONG-TERM RATES OF INTEREST IN THE VALUATION OF A PENSION FUND
... The results on the three bases for the real rate of return over earnings for investment in ordinary shares over periods of 20 years are compared in Table 10, which also shows correspondi[r] ...
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Determinants of the expected real long-term interest rates in the G7-countries
... Expected real long-term interest rates turn out to be influenced positively by real short-term interest rates, capacity utilization and structural public borrowing.. JEL Classification: [r] ...
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