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| Author: | Dotsey, M. Lantz, C. Scholl, B. |
| Title: | The behaviour of the real rate of interest |
| Journal: | Journal of Money, Credit and Banking
2003 : FEB, VOL. 35:1, p. 91-110 |
| Index terms: | Gross national product Interest rates Term structure of interest rates |
| Language: | eng |
| Abstract: | New facts regarding the behaviour of the ex-ante real rate of interest are presented in this paper. These facts are notably different from conventional wisdom about the cyclical properties of the real rate. In particular, it is found that the ex-ante real rate is contemporaneously positively correlated with GDP and positively correlated with lagged cyclical output. |
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