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Do stock prices and interest rates possess a common trend?

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Author Info
Amaresh Das
Abstract

This paper empirically captures the interrelationships between the stock markets and interest rates for a set of Asian markets by means of a new technique called co-dependence. It uses a set of data for three countries in Asia ? India, Pakistan and Bangladesh, over a time period spanning from 1985 to 2003.

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Article provided by De Boeck Université in its journal Recherches économiques de Louvain.

Volume (Year): 71 (2005)
Issue (Month): 4 ()
Pages: 383-390
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Handle: RePEc:cai:reldbu:rel_714_0383

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Hansen, Lars Peter & Jagannathan, Ravi, 1997. " Assessing Specification Errors in Stochastic Discount Factor Models," Journal of Finance, American Finance Association, vol. 52(2), pages 557-90, June. [Downloadable!] (restricted)
    Other versions:
  2. Engle, Robert F & Kozicki, Sharon, 1993. "Testing for Common Features," Journal of Business & Economic Statistics, American Statistical Association, vol. 11(4), pages 369-80, October.
    Other versions:
  3. Hansen, Lars Peter & Heaton, John & Luttmer, Erzo G J, 1995. "Econometric Evaluation of Asset Pricing Models," Review of Financial Studies, Oxford University Press for Society for Financial Studies, vol. 8(2), pages 237-74. [Downloadable!] (restricted)
    Other versions:
  4. Engle, Robert F & Kozicki, Sharon, 1993. "Testing for Common Features: Reply," Journal of Business & Economic Statistics, American Statistical Association, vol. 11(4), pages 393-95, October.
  5. Kasa, Kenneth, 1992. "Common stochastic trends in international stock markets," Journal of Monetary Economics, Elsevier, vol. 29(1), pages 95-124, February. [Downloadable!] (restricted)
  6. Rahman, Matiur & Mustafa, Muhammad, 1997. "Dynamic Linkages and Granger Causality between Short-Term US Corporate Bond and Stock Markets," Applied Economics Letters, Taylor and Francis Journals, vol. 4(2), pages 89-91, February. [Downloadable!] (restricted)
  7. Blanchard, Olivier J, 1981. "Output, the Stock Market, and Interest Rates," American Economic Review, American Economic Association, vol. 71(1), pages 132-43, March. [Downloadable!] (restricted)
  8. Hashemzadeh, Nozar & Taylor, Philip, 1988. "Stock Prices, Money Supply, and Interest Rates: The Question of Causality," Applied Economics, Taylor and Francis Journals, vol. 20(12), pages 1603-11, December.
  9. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254. [Downloadable!] (restricted)
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