G2TT
来源类型Discussion paper
规范类型论文
来源IDDP1739
DP1739 The Political Economy of EC Regionalism
André Sapir
发表日期1997-11-30
出版年1997
语种英语
摘要This paper uses weekly data on short-term eurorates for ten countries for the period 1979?96 to document that the ability of the expectations hypothesis (EH) to account for movements in the term structure is greater, and that short-term interest rates are more predictable, under fixed than under floating exchange rates. The paper also shows that the higher predictability does not arise solely because of monetary policy responses to speculative pressures in the foreign exchange markets: while it is more difficult to reject the EH in periods of exchange market turmoil, the EH is not rejected in tranquil periods.
主题International Macroeconomics
关键词Expectations hypothesis Speculative attacks Term structure of interest rates
URLhttps://cepr.org/publications/dp1739
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/530882
推荐引用方式
GB/T 7714
André Sapir. DP1739 The Political Economy of EC Regionalism. 1997.
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