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What Moves OECD Real Interest Rates ?
| Content Provider | Semantic Scholar |
|---|---|
| Author | John Snell, Andrew |
| Copyright Year | 2000 |
| Abstract | This paper conducts a structural time-series analysis of ex-ante real interest rates of the ...ve major OECD economies. The relationships of rates to permanent and temporary real and nominal shocks appear to be qualitatively consistent with predictions of stochastic general equilibrium business cycle models. US real and nominal shocks are found to be the most important causes of persistence in rates, but only nominal shocks cause dynamic movements that are coherent across all countries. The rise in real interest rates of the early 1980s was mainly due to nominal shocks; real shocks played little or no role. JEL Classi...cation: C32 (Time Series Modelling), E43 (Determination of Interest Rates) |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | http://www.bbk.ac.uk/ems/econ/research/macro/papers/rrates02may01.pdf |
| Alternate Webpage(s) | http://www.econ.bbk.ac.uk/research/macro/papers/rrates3.pdf |
| Language | English |
| Access Restriction | Open |
| Subject Keyword | Behavior Cations Coherence (physics) Conjunctive normal form Exception handling Fisher information Guanosine Diphosphate Kind of quantity - Equilibrium Movement Organisation for Economic Co-Operation and Development Persistence (computer science) Shock Time series Toxic Shock Syndrome numeral 19 |
| Content Type | Text |
| Resource Type | Article |
