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| Author: | Knot, K. |
| Title: | On the determination of real interest rates in Europe |
| Journal: | Empirical Economics
1995 : VOL. 20:3, p. 479-500 |
| Index terms: | EUROPE INTEREST RATES MODELS |
| Language: | eng |
| Abstract: | In this paper a loanable funds model is estimated over the period 1959-1990 for the determination of after-tax expected real interest rates using aggregated data for four European countries under the assumption that high capital mobility in Europe implies a common capital market. It is concluded that real interest rates in the European Community were mainly driven by movements in temporary income, expected inflation, lagged investment, money growth, and the oil price. |
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