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Book The Term Structure of Interest Rates and Monetary Policy During a Zero Interest Rate Period

Download or read book The Term Structure of Interest Rates and Monetary Policy During a Zero Interest Rate Period written by Mr.Jun Nagayasu and published by International Monetary Fund. This book was released on 2003-10-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper empirically evaluates the validity of the term structure of interest rates in a low-interest-rate environment. Applying a time-series method to high-frequency Japanese data, the term-structure model is found to be useful for economic analysis only when interest rates are high. When interest rates are low, the usefulness of the model declines, since the interest spread contains little information that can be used for predicting future economic activity. The term-structure relationship is also weakened by the Bank of Japan's use of interest rate smoothing.

Book The Japanese Term Structure of Interest Rates

Download or read book The Japanese Term Structure of Interest Rates written by Gary Stephen Shea and published by . This book was released on 1982 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book The Term Structure of Interest Rates in the United States  1884 1914

Download or read book The Term Structure of Interest Rates in the United States 1884 1914 written by Jean Mathieson Gray and published by . This book was released on 1969 with total page 506 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book The Term Structure of Interest Rates Revisited

Download or read book The Term Structure of Interest Rates Revisited written by N. Gregory Mankiw and published by . This book was released on 2008 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: The relationship between long-term and short-term interest rates is crucial for macroeconomic policy evaluation. Since the short-term interest rate is the opportunity cost of holding money, it is widely believed that the Federal Reserve has more direct control over short-term than over long-term interest rates in the United States. Yet if capital is costly to adjust or takes time to place into use, investment decisions may depend on long-term interest rates. The term structure of interest rates thus appears central to the monetary transmission mechanism. Unfortunately, the determinants of the term structure remain poorly understood.This paper uses data from the United States, Canada, and the United Kingdom, and Germany to examine various hypotheses regarding the term structure. My goal is to see whether the experiences of these four countries since 1960 can help provide a general explanation of the term structure. In the United States many observers believe the large variations in the long-term interest rate since 1979 are not adequately explained by movements in short-term interest rates. Of particular interest is whether the experience of the United States in these and earlier years merely reflects an unusual historical episode. If it does, it would be inappropriate to draw any general conclusions from this experience or to extrapolate this experience into the future.This study is in part motivated by apparent differences between recent experience in the United States and experience elsewhere. In 1985, the rate on long-term government bonds in the United States exceeded the rate on three-month Treasury bills by more than 300 basis points. By contrast, the long-term interest rate in the United Kingdom was more than 100 basis points below the short-term interest rate. Interpreting such divergent national experiences is the primary purpose of studying the term structure more generally.

Book The term structure of interest rates in the US and West Germany

Download or read book The term structure of interest rates in the US and West Germany written by Hans-Eggert Reimers and published by . This book was released on 1989 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book The Term Structure of Interest Rates in the United States 1884 1914

Download or read book The Term Structure of Interest Rates in the United States 1884 1914 written by and published by . This book was released on 1978 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Money and Capital Markets

Download or read book Money and Capital Markets written by Peter S. Rose and published by McGraw-Hill/Irwin. This book was released on 1997 with total page 760 pages. Available in PDF, EPUB and Kindle. Book excerpt: This highly successful text continues to gain market share in addition to holding to a very loyal base of business. This text, while highly descriptive is also very comprehensive. It analyzes the entire financial system and its component parts with an expanded discussion in nearly every chapter of the trend toward globalization of financial markets and institutions. It also discusses all major types of financial instruments and provides a thorough grounding in interest rate and security price determination.

Book The Fed in Print

Download or read book The Fed in Print written by and published by . This book was released on 1990 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Pricing to Market in International Trade

Download or read book Pricing to Market in International Trade written by Joseph E. Gagnon and published by . This book was released on 1990 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book Japanese Banking and Investment in the United States

Download or read book Japanese Banking and Investment in the United States written by Peter Rose and published by Praeger. This book was released on 1991-10-30 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines in detail the timely area of Japanese banking and investment activities in the United States, and offers a clear picture of both the causes of the recent growth of foreign investment activity and the consequences of this trend for American companies, households, and government agencies. Peter S. Rose argues that multiple factors have shaped the growing roles played by Japanese banks in the U.S. financial system and by Japanese investors in the U.S. economy, but remains optimistic that this is not necessarily a cause for alarm. Rose provides a detailed look at nearly every aspect of Japan's involvement in the U.S. financial sector, as well as offering a useful overview of the banking and financial system of Japan. Among the causes of Japanese expansion that Rose discusses are the rapid appreciation of the Japanese yen in international markets, Japan's large trade surpluses with the U.S., the high personal savings rate of the Japanese, periodically depressed U.S. stock prices, and the low barriers to entry into most U.S. markets. Also fully detailed are the consequences of possible reductions in Japanese financial activity, which could be felt in the U.S. through higher domestic interest rates, a reduction in the creation of new jobs, rising unemployment, reduced availability of long-term capital, and a slackening in the growth of U.S. output. This unique work will be an important reference tool for professionals in the banking, finance, and securities industries, for public policy makers and bank regulatory agencies, and for students and researchers of international banking and finance.

Book EMS Interest Rate Differentials and Fiscal Policy

Download or read book EMS Interest Rate Differentials and Fiscal Policy written by R. Sean Craig and published by . This book was released on 1991 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Book The Econometrics of Elasticities Or the Elasticity of Econometrics

Download or read book The Econometrics of Elasticities Or the Elasticity of Econometrics written by Jaime R. Marquez and published by . This book was released on 1991 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: