haku: @indexterm Term structure of interest rates / yhteensä: 111
viite: 29 / 111
| Tekijä: | Favero, C. |
| Otsikko: | Extracting information from asset prices: the methodology of EMU calculators |
| Lehti: | European Economic Review
2000 : OCT, VOL. 44:9, p. 1607-1632 |
| Asiasana: | TERM STRUCTURE OF INTEREST RATES PROBABILITY EUROPEAN MONETARY SYSTEM |
| Kieli: | eng |
| Tiivistelmä: | This paper develops a particular technique for extracting market expectations from asset prices. The authors use the term structure of interest rates to estimate the probability the market attaches to the event that a country, Italy, joins the European Monetary Union at a given date. The case of Italy is interesting because in the survey regularly conducted by Reuters, the probability that Italy joins EMU in 1999 has fluctuated. This paper proposes a new method for computing these probabilities. |
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