haku: @indexterm FINANCIAL THEORY / yhteensä: 142
viite: 29 / 142
| Tekijä: | Caporale, T. Grier, K. |
| Otsikko: | Political regime change and the real interest rate |
| Lehti: | Journal of Money, Credit and Banking
2000 : AUG, VOL. 32:3, PART 1, p. 320-334 |
| Asiasana: | CHANGE INTEREST RATES FINANCIAL THEORY |
| Kieli: | eng |
| Tiivistelmä: | The effect of policy regime changes on real interest rates has important implications for financial and economic theory. However, there is little current evidence that such changes have any impact on the level of real interest rates. In this paper, the authors estimate both the number location of structural breaks in the three-month U.S. real interest rate using a global optimization technique developed by Bai and Perron (1998). The authors compare the timing of large political changes to the dating of these structural breaks. |
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