haku: @author Edey, M. L. / yhteensä: 1
viite: 1 / 1
« edellinen | seuraava »
| Tekijä: | Edey, M. L. |
| Otsikko: | Risk effects versus monetary effects in the determination of short-term interest rates. |
| Lehti: | Economica
1989 : AUG, VOL. 56:223, p. 311-322 |
| Asiasana: | INTEREST RATES MACROECONOMICS MICROECONOMICS MODELS |
| Kieli: | eng |
| Tiivistelmä: | Economic theory offers two distinct approaches to the explanation of movements in interest rates over time. At the macroeconomic level, interest well developed body of theories of asset pricing based entirely on investor optimization under conditions of risk. At the microeconomic level, there is a rates are viewed as being determined in an equilibrium in which money demand plays a key part in determining short-run behaviour. There has been no attempt to test these two theories in an integrated framework. It is this task that is attempted. The main finding is that risk premium makes no significant contribution to the explanation of interest rate behaviour. |
« edellinen | seuraava »
SCIMA