The Cyclical Behavior of Short- and Long-term Interest Rates and Some Explanations of that Behavior
Title | The Cyclical Behavior of Short- and Long-term Interest Rates and Some Explanations of that Behavior PDF eBook |
Author | Scott Taylor Jones |
Publisher | |
Pages | 194 |
Release | 1973 |
Genre | Business cycles |
ISBN |
The Cyclical Behavior of the Term Structure of Interest Rates
Title | The Cyclical Behavior of the Term Structure of Interest Rates PDF eBook |
Author | Reuben A. Kessel |
Publisher | |
Pages | 134 |
Release | 1965 |
Genre | Business & Economics |
ISBN |
The Cyclical Behavior of the Term Structure of Interest Rates
Title | The Cyclical Behavior of the Term Structure of Interest Rates PDF eBook |
Author | Kenneth Jan Singleton |
Publisher | |
Pages | 408 |
Release | 1977 |
Genre | Cycles |
ISBN |
The Cyclical Behavior of the Term Structure of Interest Rates
Title | The Cyclical Behavior of the Term Structure of Interest Rates PDF eBook |
Author | Reuben A. Kessel |
Publisher | |
Pages | 132 |
Release | 1965 |
Genre | Business & Economics |
ISBN |
˜Theœ cyclical Behavior of the term structore of interest rates
Title | ˜Theœ cyclical Behavior of the term structore of interest rates PDF eBook |
Author | Reuben A. Kessel |
Publisher | |
Pages | 113 |
Release | 1965 |
Genre | |
ISBN |
A Simple Account of the Behavior of Long-term Interest Rates
Title | A Simple Account of the Behavior of Long-term Interest Rates PDF eBook |
Author | John Y. Campbell |
Publisher | |
Pages | 58 |
Release | 1983 |
Genre | Interest rates |
ISBN |
Recent empirical research on the term structure of interest rates has shown that the long-term interest rate is well described by adistributed lag on short-term interest rates, but does not conform to the expectations theory of the term structure. It has been suggested that the long rate "overreacts" to the short rate. This paper presents aunified taxonomy of risk premia, or deviations from the expectations theory. This enables the hypothesis of overreaction to be formally stated. It is shown that, if anything, the long rate has underreacted to the short rate. However, the independent movement of the long rate is primarily responsible for the failure of the expectations theory.
Changes in the Cyclical Behavior of Interest Rates
Title | Changes in the Cyclical Behavior of Interest Rates PDF eBook |
Author | Phillip Cagan |
Publisher | |
Pages | 48 |
Release | 1966 |
Genre | Business cycles |
ISBN |