A Multi Country Study Of The Information In The Term Structure About Future Inflation
DOWNLOAD
Download A Multi Country Study Of The Information In The Term Structure About Future Inflation PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get A Multi Country Study Of The Information In The Term Structure About Future Inflation book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
A Multi Country Study Of The Information In The Term Structure About Future Inflation
DOWNLOAD
Author : Frederic S. Mishkin
language : en
Publisher:
Release Date : 1991
A Multi Country Study Of The Information In The Term Structure About Future Inflation written by Frederic S. Mishkin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with categories.
This paper provides evidence on what the term structure (for maturities of twelve months or less) tells us about future inflation in ten OECD countries. The empirical results on the information in the term structure contrast with those that find that the level of interest rates help forecast the future level of inflation. Instead, they indicate that for the majority of the countries in the sample, the term structure does not contain a great deal of information about the future path of inflation. The results for France, the United Kingdom and Germany tell a different story, however. In these countries, the term structure contains a highly significant amount of information about future changes in inflation. The evidence in this paper suggests that central banks for most of the countries studied here should exercise some caution in using the term structure of interest rates as a guide for assessing inflationary pressures in the economy, as is currently under consideration in the U.S. central bank. Although there is significant information in the term structure about the future path of inflation for a few of the countries, this is not a result that is true in general. The empirical evidence does reveal, however, that for every country studied except the United Kingdom, there is a great deal of information in the term structure of nominal' interest rates about the term structure of real' interest rates. This finding is an extremely useful one because it suggests that for most countries researchers can examine observable data on the nominal term structure to provide them with information about the behavior of the real' term structure
A Multi Country Study Of The Information In The Term Structure About Future Inflation
DOWNLOAD
Author : Frederic Mishkin
language : es
Publisher:
Release Date : 1989
A Multi Country Study Of The Information In The Term Structure About Future Inflation written by Frederic Mishkin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with categories.
A Multi Country Study Of The Information In The Term Structure Debt Future Inflation
DOWNLOAD
Author : Frederic S. Mishkin
language : en
Publisher:
Release Date : 1989
A Multi Country Study Of The Information In The Term Structure Debt Future Inflation written by Frederic S. Mishkin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Euro-dollar market categories.
A Multi Country Comparison Of Term Structure Forecasts At Long Horizons
DOWNLOAD
Author : Philippe Jorion
language : en
Publisher:
Release Date : 1991
A Multi Country Comparison Of Term Structure Forecasts At Long Horizons written by Philippe Jorion and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Inflation (Finance) categories.
This paper extends previous work on the information in the term structure at longer maturities to other countries besides the United states, using a newly constructed data set for 1 to 5 year interest rates from Britain, West Germany and Switzerland. Even with wide differences in inflation processes across these countries, there is we find strong evidence that the term structure does have significant forecasting ability for future changes in inflation, particularly so at long maturities. On the other hand, the ability of the term structure to forecast future changes in 1-year interest rates is somewhat weaker; only at the very longest horizon (5 years) is there significant forecasting ability for interest rate changes.
The Information In The Longer Maturity Term Structure About Future Inflation
DOWNLOAD
Author : Frederic Mishkin
language : es
Publisher:
Release Date : 1989
The Information In The Longer Maturity Term Structure About Future Inflation written by Frederic Mishkin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with categories.
The Information In The Longer Maturity Term Structure About Future Inflation
DOWNLOAD
Author :
language : en
Publisher:
Release Date : 1989
The Information In The Longer Maturity Term Structure About Future Inflation written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with categories.
What Does The Term Structure Tell Us About Future Inflation
DOWNLOAD
Author : Frederic S. Mishkin
language : en
Publisher:
Release Date : 1990
What Does The Term Structure Tell Us About Future Inflation written by Frederic S. Mishkin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with categories.
This paper examines empirically what the term structure of interest rates tells us about future inflation. The evidence indicates that the information in the term structure about the future path of inflation is quite different at the shortest end of the term structure (maturities six months or less) than it is for maturities of nine to twelve months. For maturities of six months or less, in all the sample periods examined -- February 1964 to December 1986, 1964 to October 1979, November 1979 to October 1982, November 1982 to December 1986 -- the term structure provides almost no information about the future path of inflation. On the other hand at this end of the term structure, the results do indicate that the term structure of nominal interest rates contain a great deal of information about the term structure of real interest rates. This finding is quite important because it suggests that researchers can examine observable data on the shortest end of the nominal term structure to provide them with information about the behavior of the real term structure. For maturities of nine and twelve months, the term structure does appear to contain information about the future path of inflation in the full sample period and in the sub-periods before October 1982. At these longer maturities, however, there does not appear to be much information in the nominal term structure about the term structure of real interest rates. The evidence in this paper suggests that some caution should be exercised in using the term structure of interest rates as a guide for assessing inflationary pressures in the economy, as is currently under consideration by the Federal Reserve. Although there is apparently significant information in the term structure about the future path of inflation for maturities greater than six months, there is no information about the future path of inflation that can be obtained from the shorter end of the term structure
A Multi Country Study Of The Information In The Term Structure About Future Inflation
DOWNLOAD
Author : Frederic S. Mishkin
language : en
Publisher:
Release Date : 1989
A Multi Country Study Of The Information In The Term Structure About Future Inflation written by Frederic S. Mishkin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Bank deposits categories.
This paper provides evidence on what the term structure (for maturities of twelve months or less) tells us about future inflation in ten OECD countries. The empirical results on the information in the term structure contrast with those that find that the level of interest rates help forecast the future level of inflation. Instead, they indicate that for the majority of the countries in the sample, the term structure does not contain a great deal of information about the future path of inflation. The results for France, the United Kingdom and Germany tell a different story, however. In these countries, the term structure contains a highly significant amount of information about future changes in inflation. The evidence in this paper suggests that central banks for most of the countries studied here should exercise some caution in using the term structure of interest rates as a guide for assessing inflationary pressures in the economy, as is currently under consideration in the U.S. central bank. Although there is significant information in the term structure about the future path of inflation for a few of the countries, this is not a result that is true in general. The empirical evidence does reveal, however, that for every country studied except the United Kingdom, there is a great deal of information in the term structure of nominal' interest rates about the term structure of real' interest rates. This finding is an extremely useful one because it suggests that for most countries researchers can examine observable data on the nominal term structure to provide them with information about the behavior of the real' term structure.
Perspectives On Econometrics And Applied Economics
DOWNLOAD
Author : Mark P. Taylor
language : en
Publisher: Routledge
Release Date : 2014-06-11
Perspectives On Econometrics And Applied Economics written by Mark P. Taylor and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-11 with Business & Economics categories.
This volume is dedicated to the memory and the achievements of Professor Sir Clive Granger, economics Nobel laureate and one of the great econometricians and applied economists of the twentieth and early twenty-first centuries. It comprises contributions from leading econometricians and applied economists who knew Sir Clive and interacted with him over the years, and who wished to pay tribute to him as both a great economist and econometrician, and as a great man. This book was originally published as a special issue of Applied Financial Economics.
Inflation Expectations
DOWNLOAD
Author : Peter J. N. Sinclair
language : en
Publisher: Routledge
Release Date : 2009-12-16
Inflation Expectations written by Peter J. N. Sinclair and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-12-16 with Business & Economics categories.
Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.