## Research classified by
*Journal of
Economic Literature* (JEL) codes

Top JEL

/ E: Macroeconomics and Monetary Economics

/ / E4: Money and Interest Rates

/ / /

**E43: Interest Rates: Determination, Term Structure, and Effects**

**This JEL code is mentioned in the follow RePEc Biblio entries:**

**This topic is covered by the following reading lists:**

- Quantitative Macroeconomics and Real Business Cycles (QM&RBC)
- Mondialisation
- Advanced Monetary Theory and Policy (ECON 447)

Most recent items first, undated at the end.

**Estimating the Taylor Rule in the Time-Frequency Domain**

*by*Luís Aguiar-Conraria & Manuel M. F. Martins & Maria Joana Soares

**Real effects of sovereign bond market spillovers in the euro area**

*by*Gadatsch, Niklas

**The term structure of interest rates and the macroeconomy: Learning about economic dynamics from a FAVAR**

*by*Halberstadt, Arne

**The relevance of international spillovers and asymmetric effects in the Taylor rule**

*by*Joscha Beckmann & Ansgar Belke & Christian Dreger

**Can monetary policy surprise the market?**

*by*Edda Claus, Mardi Dungey

**Interest Rate Pass-Through and Asymmetries in Retail Deposit and Lending Rates: An Analysis using Data from Colombian Banks**

*by*Mark J. Holmes & Ana Maria Iregui & Jesús Otero

**TIPS and the VIX: Spillovers from Stock Market Panic to Breakeven Inflation in an Automated, Non-linear Modeling Framework**

*by*Josh R. Stillwagon

**Turkiye icin Finansal Kosullar Endeksi (Turkish)**

*by*Hakan Kara & Pinar Ozlu & Deren Unalmis

**How Independent are the South African Reserve Bank’s Monetary Policy Decisions? Evidence from a Global New-Keynesian DSGE Model**

*by*Annari De Waal & Rangan Gupta & Charl Jooste

**Term Structure Dynamics, Macro-Finance Factors and Model Uncertainty**

*by*Byrne, Joseph & Cao, Shuo & Korobilis, Dimitris

**The Effects of Conventional and Unconventional Monetary Policy Surprises on Asset Markets in the United States**

*by*Unalmis, Deren & Unalmis, Ibrahim

**Overfunding and underfunding, a main cause of the business cycle?**

*by*De Koning, Kees

**Collaborative Research and Rate of Interests**

*by*Chatterjee, Rittwik & Chattopadhyay, Srobonti

**Semi-strong informational efficiency in the Polish foreign exchange market**

*by*Luksz Goczek

**The Conduct of Monetary Policy in the Future: Instrument Use**

*by*Kei-Ichiro Inaba & Rory O’Farrell & Łukasz Rawdanowicz & Ane Kathrine Christensen

**Global Sunspots and Asset Prices in a Monetary Economy**

*by*Roger E.A. Farmer

**Structural and cyclical determinants of bank interest rate pass-through in Eurozone**

*by*Aurélien Leroy & Yannick Lucotte

**Declining discount rates and the ‘Fisher Effect’: Inflated past, discounted future?**

*by*Mark C. Greeman & Ben Groom & Ekaterini Panopoulou & Theologos Pantelidis

**Forward Guidance at the Zero Lower Bound in a Model of Price-Level Targeting**

*by*Illing, Gerhard & Siemsen, Thomas

**Does Keynesian Theory Explain Indian Government Bond Yields?**

*by*Tanweer Akram & Anupam Das

**An Adaptive Approach to Forecasting Three Key Macroeconomic Variables for Transitional China**

*by*Linlin Niu & Xiu Xu & Ying Chen &

**Risks in macroeconomic fundamentals and excess bond returns predictability**

*by*De Rezende, Rafael B.

**An adaptive approach to forecasting three key macroeconomic variables for transitional China**

*by*Niu, Linlin & Xu, Xiu & Chen, Ying

**Inconsistent voting behavior in the FOMC**

*by*Lähner, Tom

**Predicting Economic Activity via Eurozone Yield Spreads: Impact of Credit Risk**

*by*Schock, Matthias

**Superneutrality of Money under Open Market Operations**

*by*Homburg, Stefan

**Resolving the spanning puzzle in macro-finance term structure models**

*by*Bauer, Michael D. & Rudebusch, Glenn D.

**A model of the Twin Ds: optimal default and devaluation**

*by*Na, Seunghoon & Schmitt-Grohe, Stephanie & Uribe, Martin & Yue, Vivian Z.

**Combine to compete: improving fiscal forecast accuracy over time**

*by*Laura Carabotta & Peter Claeys

**A structural investigation of the Chinese economy with a hybrid monetary policy rule**

*by*Ran Li & Jiao Wang

**Can monetary policy surprise the market?**

*by*Edda Claus & Mardi Dungey

**The stability of short-term interest rates pass-through in the euro area during the financial market and sovereign debt crises**

*by*Avouyi-Dovi, Sanvi & Horny, Guillaume & Sevestre, Patrick

**The role of term structure in an estimated DSGE model with learning**

*by*Pablo Aguilar & Jesús Vázquez

**Does austerity pay off?**

*by*Born, Benjamin & Müller, Gernot & Pfeifer, Johannes

**The International Transmission of Risk: Causal Relations Among Developed and Emerging Countries’ Term Premia**

*by*Juan Andrés Espinosa-Torres & Jose E. Gomez-Gonzalez & Luis Fernando Melo-Velandia & José Fernando Moreno-Gutiérrez

**Prediciendo decisiones de agentes económicos: ¿Cómo determina el Banco de la República de Colombia la tasa de interés?**

*by*Gustavo Nicolás Páez

**Monetary Policy with Ambiguity Averse Agents**

*by*Riccardo M. Masolo & Francesca Monti

**Around the World with Irving Fisher**

*by*Thorvaldur Gylfason & Helgi Tómasson & Gylfi Zoega

**Restrictions on Risk Prices in Dynamic Term Structure Models**

*by*Michael D. Bauer

**Superneutrality of Money under Open Market Operations**

*by*Stefan Homburg

**Resolving the Spanning Puzzle in Macro-Finance Term Structure Models**

*by*Michael D. Bauer & Glenn D. Rudebusch

**Bank Networks: Contagion, Systemic Risk and Prudential Policy**

*by*Inaki Aldasoro & Domenico Delli Gatti & Ester Faia

**Estimating inflation risk premia from nominal and real yield curves using a shadow-rate model**

*by*Kei Imakubo & Jouchi Nakajima

**The natural yield curve: its concept and developments in Japan**

*by*Kei Imakubo & Haruki Kojima & Jouchi Nakajima

**A joint affine model of commodity futures and US Treasury yields**

*by*Chin, Michael & Liu, Zhuoshi

**Do contractionary monetary policy shocks expand shadow banking?**

*by*Nelson, Benjamin & Pinter, Gabor & Theodoridis, Konstantinos

**The stability of short-term interest rates pass-through in the euro area during the financial market and sovereign debt crises**

*by*S. Avouyi-Dovi & G. Horny & P. Sevestre

**Funding Liquidity, Market Liquidity and the Cross-Section of Stock Returns**

*by*Jean-Sébastien Fontaine & René Garcia & Sermin Gungor

**Determinantes del tipo de interes del credito a empresas en la Eurozona**

*by*Jose Felix Izquierdo & Santiago Fernandez de Lis & Ana Rubio

**Understanding the dichotomy of financial development: credit deepening versus credit excess**

*by*Alfonso Ugarte Ruiz

**Effects of U.S. Quantitative Easing on Latin American Economies**

*by*César Carrera & Fernando Pérez Forero & Nelson Ramírez-Rondán

**The Determinants of Interest Rates in Microbanks: Age and Scale**

*by*Jacinta C. Nwachukwu & Simplice Asongu

**Revisiting the Tale of Two Interest Rates with Endogenous Market Segmentation**

*by*Aubhik Khan & Julia Thomas

**The Austrian Business Cycle Theory: VAR Analysis for USA between 1978-2013**

*by*Martin Komrska

**A monetáris politika globális tendenciái és a stabilitási kockázatok**

*by*Ábel, István

**Monetary Policies And Industrial Fluctuations In East European Countries**

*by*Mihaela IFRIM

**Inflation Expectations and the News**

*by*Michael D. Bauer

**How Monetary Policy Is Made: Two Canadian Tales**

*by*Pierre L. Siklos & Matthias Neuenkirch

**Three Scenarios for Interest Rates in the Transition to Normalcy**

*by*Cooke, Diana A. & Gavin, William T.

**Interactions of Unconventional Monetary Policy Measures with the Euro Area Yield Curve**

*by*Lubomira Gertler

**Le determinanti dei tassi di interesse bancari nelle regioni italiane**

*by*Manuela Gallo & Valeria Vannoni

**Announcements of ECB unconventional programs: Implications for the sovereign spreads of stressed euro area countries**

*by*Falagiarda, Matteo & Reitz, Stefan

**The side effects of quantitative easing: Evidence from the UK bond market**

*by*Steeley, James M.

**Monetary policy and long-term real rates**

*by*Hanson, Samuel G. & Stein, Jeremy C.

**Why do term structures in different currencies co-move?**

*by*Jotikasthira, Chotibhak & Le, Anh & Lundblad, Christian

**Macroeconomic linkages between monetary policy and the term structure of interest rates**

*by*Kung, Howard

**Monetary policy and stock prices – Cross-country evidence from cointegrated VAR models**

*by*Belke, Ansgar & Beckmann, Joscha

**A comparison of the information in the LIBOR and CMT term structures of interest rates**

*by*Brooks, Robert & Cline, Brandon N. & Enders, Walter

**Identifying, valuing and hedging of embedded options in non-maturity deposits**

*by*Blöchlinger, Andreas

**A macro-financial analysis of the euro area sovereign bond market**

*by*Dewachter, Hans & Iania, Leonardo & Lyrio, Marco & de Sola Perea, Maite

**A common jump factor stochastic volatility model**

*by*Laurini, Márcio Poletti & Mauad, Roberto Baltieri

**Emerging market local currency bonds: Diversification and stability**

*by*Miyajima, Ken & Mohanty, M.S. & Chan, Tracy

**Estimation of affine term structure models with spanned or unspanned stochastic volatility**

*by*Creal, Drew D. & Wu, Jing Cynthia

**Prediction bias correction for dynamic term structure models**

*by*Raviv, Eran

**The macro-financial implications of house price-indexed mortgage contracts**

*by*Hull, Isaiah

**International long-term yields and monetary policy in a small open economy: The case of Canada**

*by*Lange, Ronald H.

**Finite lifetimes, long-term debt and the fiscal limit**

*by*Richter, Alexander W.

**The Behavior of Conventional and Islamic Bank Deposit Returns in Malaysia and Turkey**

*by*Serhan Cevik & Joshua Charap

**Economic Crises and the Substitution of Fiscal Policy by Monetary Policy**

*by*Ioannis N. Kallianiotis

**Var Analysis Of The Transmission Mechanism Of Monetary Policy In Romania**

*by*Zina CIORAN

**Monetary Policy Objectives During the Crisis: An Overview of Selected Southeast European Countries**

*by*Aneta Krstevska

**Basic interest rate, bank competition and bank spread in personal credit operations in Brazil: A theoretical and empirical analysis**

*by*Guilherme Jonas Costa da Silva & Lívia Abrão Steagall Pirtouscheg

**Monetary Policy and Real Borrowing Costs at the Zero Lower Bound**

*by*Simon Gilchrist & David López-Salido & Egon Zakrajšek

**Monetary Policy Surprises, Credit Costs, and Economic Activity**

*by*Mark Gertler & Peter Karadi

**The Effects of Monetary Policy on Stock Market Bubbles: Some Evidence**

*by*Jordi Galí & Luca Gambetti

**Conventional and Unconventional Monetary Policy with Endogenous Collateral Constraints**

*by*Aloísio Araújo & Susan Schommer & Michael Woodford

**FOMC Forward Guidance and Investor Beliefs**

*by*Arunima Sinha

**Does the South African Reserve Bank (SARB) Respond to Oil Price Movements? Historical Evidence from the Frequency Domain**

*by*Goodness C. Aye & Olorato Gadinabokao & Rangan Gupta

**How to aggregate experts' discount rates: An equilibrium approach**

*by*Napp, Clotilde & Jouini, Elyès

**Interest Rates, Expected Inflation and Structural Breaks: Further Evidence on the Fisher Effect in India (1996-2013) - Tassi di interesse, inflazione attesa e cambiamenti strutturali: nuova evidenza empirica sull’effetto Fisher in India (1996-2013)**

*by*Tronzano, Marco

**Interest Rate Asymmetries in the Lending-Deposit Spread: A Case - Asimmetrie del tasso di interesse nello spread prestiti-depositi: studio di un caso**

*by*Dube, Smile & Zhou, Yan

**Preliminary Evidence on the Impact of Budget Deficits on the Nominal Interest Rate Yield on Ten-Year U.S. Treasury Notes after Allowing for Adoption of Monetary Policies Involving "Quantitative Easing" - Evidenza preliminare sull’impatto del deficit di bilancio sul tasso di interesse nominale delle treasury notes USA a dieci anni dopo l’adozione di politiche monetarie di “quantitative easing”**

*by*Cebula, Richard J.

**Modelling the Dynamics of Sovereign Risk Premium [Modelarea dinamicii primei de risc suveran]**

*by*Fudulache Adina Elena

**An Empirical Investigation of Fisherian Link in BRIC-T Countries**

*by*Tayfur BAYAT & Selim KAYHAN & Çetin DOĞAN

**Is a monetary union feasible for Latin America? Evidence from real effective exchange rates and interest rate pass-through levels**

*by*Stephen McKnight & Marco Robles Sánchez

**Fraktionale Kointegrationsbeziehungen zwischen Euribor-Zinssätzen**

*by*Dechert, Andreas

**Drifts, Volatilities and Impulse Responses Over the Last Century**

*by*Amir Ahmadi, Pooyan & Matthes, Christian & Wang, Mu-Chun

**Does the foreign interest rate matter for monetary policy? Evidence from nonlinear Taylor rules**

*by*Belke, Ansgar & Beckmann, Joscha & Dreger, Christian

**Smells Like Fiscal Policy? Assessing the Potential Effectiveness of the ECB s OMT Program**

*by*Wollmershäuser, Timo & Hristov, Nikolay & Hülsewig, Oliver & Siemsen, Thomas

**Does austerity pay off?**

*by*Born, Benjamin & Müller, Gernot J. & Pfeifer, Johannes

**The role of demographics in small business loan pricing**

*by*Neuberger, Doris & Räthke-Döppner, Solvig

**Sovereign risk, interbank freezes, and aggregate fluctuations**

*by*Engler, Philipp & Große Steffen, Christoph

**The relevance of international spillovers and asymmetric effects in the Taylor rule**

*by*Beckmann, Joscha & Belke, Ansgar & Dreger, Christian

**Stability and Identification with Optimal Macroprudential Policy Rules**

*by*Chatelain, Jean-Bernard & Ralf, Kirsten

**Monetary policy, long real yields and the financial crisis**

*by*Moretti, Laura

**Financial conditions, macroeconomic factors and (un)expected bond excess returns**

*by*Fricke, Christoph & Menkhoff, Lukas

**When Is Lift-Off? Evaluating Forward Guidance From The Shadow**

*by*M. Neuenkirch, P. Siklos

**How Monetary Policy is Made: Two Canadian Tales**

*by*Pierre L. Siklos, Matthias Neuenkirch

**Banking and Sovereign Debt Crises in Monetary Union Without Central Bank Intervention**

*by*Jin Cheng & Meixing Dai & Frédéric Dufourt

**Applying a Macro-Finance Yield Curve to UK Quantitative Easing**

*by*Jagjit S. Chadha & Alex Waters

**Is there any relationship between the rates of interest and profit in the U.S. economy?**

*by*Ivan Mendieta-Muñoz

**The Treatment of Financial Transactions in the SNA: A User Cost Approach**

*by*, & Diewert, Erwin

**Gamma discounters are short-termist**

*by*Gollier, Christian

**When is Lift-off? Evaluating Forward Guidance from the Shadow**

*by*Matthias Neuenkirch & Pierre L. Siklos

**An essay on horizontalism, structuralism and historical time**

*by*Mark Setterfield

**Testing the Expectations Hypothesis with Survey Forecasts: The Impacts of Consumer Sentiment and the Zero Lower Bound in an I(2) CVAR**

*by*Josh Stillwagon

**Identification of Monetary Policy Shocks in Turkey: A Structural VAR Approach**

*by*Mustafa Kilinc & Cengiz Tunc

**Interest Rate Corridor, Liquidity Management and the Overnight Spread**

*by*Hande Kucuk & Pinar Ozlu & Anil Talasli & Deren Unalmis & Canan Yuksel

**Credit spread variability in U.S. business cycles: the Great Moderation versus the Great Recession**

*by*Hylton Hollander & Guangling Liu

**Fisher Effect in Austria Causality Approach**

*by*Sami Taban & Ferit Önder

**The sensitivity of households to interest rate - analysis of the relationship of interest rates and the amount of loans and deposits in the Czech Republic**

*by*Jiri Rotschedl

**Low Frequency Effects of Macroeconomic News on Government Bond Yields**

*by*Carlo Altavilla & Domenico Giannone & Michele Modugno

**Credit spread variability in U.S. business cycles: The Great Moderation versus the Great Recession**

*by*Hylton Hollander and Guangling Liu

**A Note on the (continued) Ability of the Yield Curve to Forecast Economic Downturns in South Africa**

*by*Ferdi Botha & Gavin Keeton

**A Portrait of Informal Sector Credit and Interest Rates in Malawi: Interpolated Monthly Time Series**

*by*Harold Ngalawa

**The Relevance of International Spillovers and Asymmetric Effects in the Taylor Rule**

*by*Joscha Beckmann & Ansgar Belke & Christian Dreger

**Böhm-Bawerk und die Anfänge der monetären Zinstheorie**

*by*Peter Spahn

**Does the halo effect still hold? The (post-) crisis perspective for the euro candidates**

*by*Szczypińska, Agnieszka

**Yield Curve and Recession Forecasting in a Machine Learning Framework**

*by*Gogas, Periklis & Papadimitriou , Theophilos & Matthaiou, Maria- Artemis & Chrysanthidou, Efthymia

**Can Low Interest Rates be Harmful: An Assessment of the Bank Risk-Taking Channel in Asia**

*by*Ramayandi, Arief & Rawat, Umang & Tang, Hsiao Chink

**The Equity-like Behaviour of Sovereign Bonds**

*by*Alfonso Dufour & Andrei Stancu & Simone Varotto

**The Dynamic Effects of Interest Rates and Reserve Requirements**

*by*Pérez-Forero, Fernando & Vega, Marco

**Effects of the U.S. quantitative easing on the Peruvian economy**

*by*Carrera, César & Pérez-Forero, Fernando & Ramírez-Rondán, Nelson

**Comportamiento de los mercados financieros peruanos ante el anuncio del tapering**

*by*Choy, Marylin & Cerna, Jorge

**Term structure of discount rates under multivariate s-ordered consumption growth**

*by*Christoph Heinzel

**Capital inflows and euro area long-term interest rates**

*by*Daniel Carvalho & Michael Fidora

**Monetary Policy versus Structural Reforms: The Case of Croatia**

*by*Vidakovic, Neven & Radošević, Dubravko

**Fed Policy Expectations and Portfolio Flows to Emerging Markets**

*by*Koepke, Robin

**Interest Rates and Structural Shocks in European Transition Economies**

*by*Mirdala, Rajmund

**Organized Crime, Propaganda, Blackmails of Riinvest and OSI’s Nepotism, not the Banking Sector, is a Severe Barrier**

*by*Mulaj, Isa

**Nominal Term Structure and Term Premia. Evidence from Chile**

*by*Ceballos, Luis & Naudon, Alberto & Romero, Damian

**Monetary Policy of Quantitative Easing at the Central Bank’s High Interest Rates**

*by*BLINOV, Sergey

**Challenges of bank lending in Romania on short, medium and long-term**

*by*Zaman, Gheorghe & Georgescu, George

**An Empirical Comparison of Interest and Growth Rates**

*by*Julia, Knolle

**Critique of IS-LM: fiscal deficits, loanable funds, Keynesian Cross and IS-LM**

*by*Kim, Minseong

**Fiscal and Monetary Policy Interactions in New Zealand**

*by*Wesselbaum, Dennis

**Денежная Политика Количественного Смягчения При Высоких Ставках Центрального Банка**

*by*BLINOV, Sergey

**Competitive Search Equilibrium in the Credit Market under Asymmetric Information and Limited Commitment**

*by*Song, Jae Eun

**The Nominal Interest Rate Yield Response to Net Government Borrowing: GLM Estimates, 1972-2012**

*by*Cebula, Richard

**An Investigation into the Impact of Federal Government Budget Deficits on the Ex Ante Real Interest Rate Yield on Treasury Notes in the U.S**

*by*Cebula, Richard

**Natural Rate of Interest with Endogenous Growth, Financial Frictions and Trend Inflation**

*by*Olmos, Lorena & Sanso Frago, Marcos

**Modelo de ciclo de negocios real con dinero endógeno y pasivo**

*by*Guberman, Carlos & Cymbler, David

**Endividamento antes e após a introdução do euro: análise ARDL do caso português**

*by*Gaspar, Catarina & Fuinhas, José Alberto & Marques, António Cardoso

**On the Nominal Interest Rate Yield Response to Net Government Borrowing in the U.S.: An Empirical Analysis with Robustness Tests**

*by*Alexander, Gigi & Foley, Maggie

**Is India Ready for Flexible Inflation-Targeting?**

*by*Sen Gupta, Abhijit & Sengupta, Rajeswari

**Current Evidence on the Impact of Budget Deficits on the Nominal Interest Rate Yield on Intermediate-term Debt Issues of the U.S. Treasury: An Analysis with Robustness Tests**

*by*Cebula, Richard

**Fisher's Relation and the Term Structure: Implications for IS Curves**

*by*Malikane, Christopher & Ojah, Kalu

**The Elasticity of Intertemporal Substitution Reconsidered**

*by*Dladla, Pholile & Malikane, Christopher & Ojah, Kalu

**Have U.S. Budget Deficits Raised the Real Interest Rate Yield on Tax-Free Municipal Bonds?**

*by*Cebula, Richard

**Stability and Identification with Optimal Macroprudential Policy Rules**

*by*Chatelain, Jean-Bernard & Ralf, Kirsten

**An Empirical Investigation into the Impact of U.S. Federal Government Budget Deficits on the Real Interest Rate Yield on Intermediate-term Treasury Debt Issues, 1972-2012**

*by*Cebula, Richard

**Impact of Federal Government Budget Deficits on the Longer-term Real Interest Rate in the U.S.: Evidence Using Annual and Quarterly Data, 1960-2013**

*by*Cebula, Richard

**Sovereign defaults, external debt and real exchange rate dynamics**

*by*Asonuma, Tamon

**Pricing of retail deposits in Croatia: including the premium for country default**

*by*Vidakovic, Neven

**Interest Rates Rigidities and the Fisher Equation**

*by*Belanger, Gilles

**Bond Market Exposures to Macroeconomic and Monetary Policy Risks**

*by*Dongho Song

**Factors behind the Decline in Real Long-Term Government Bond Yields**

*by*Romain Bouis & Kei-Ichiro Inaba & Łukasz Rawdanowicz & Ane Kathrine Christensen

**Asset markets and monetary policy shocks at the zero lower bound**

*by*Edda Claus & Iris Claus & Leo Krippner

**Estimating the Taylor Rule in the time-frequency domain**

*by*Luís Francisco Aguiar-Conraria & Manuel M. F. Martins & Maria Joana Soares

**Jumps in Bond Yields at Known Times**

*by*Don H. Kim & Jonathan H. Wright

**The Price of Stability: The balance sheet policy of the Banque de France and the Gold Standard (1880-1914)**

*by*Guillaume Bazot & Michael D. Bordo & Eric Monnet

**Monetary Policy Effectiveness in China: Evidence from a FAVAR Model**

*by*John Fernald & Mark M. Spiegel & Eric T. Swanson

**Measuring the Effect of the Zero Lower Bound on Medium- and Longer-Term Interest Rates**

*by*Eric T. Swanson & John C. Williams

**Trade Dynamics in the Market for Federal Funds**

*by*Gara Afonso & Ricardo Lagos

**What Calls to ARMs? International Evidence on Interest Rates and the Choice of Adjustable-Rate Mortgages**

*by*Cristian Badarinza & John Y. Campbell & Tarun Ramadorai

**The Liquidity Premium of Near-Money Assets**

*by*Stefan Nagel

**Optimal Taylor Rules in New Keynesian Models**

*by*Christoph E. Boehm & Christopher L. House

**Measuring the Macroeconomic Impact of Monetary Policy at the Zero Lower Bound**

*by*Jing Cynthia Wu & Fan Dora Xia

**Estimation of Affine Term Structure Models with Spanned or Unspanned Stochastic Volatility**

*by*Drew D. Creal & Jing Cynthia Wu

**Monetary Policy and Real Borrowing Costs at the Zero Lower Bound**

*by*Simon Gilchrist & David López-Salido & Egon Zakrajšek

**Monetary Policy Drivers of Bond and Equity Risks**

*by*John Y. Campbell & Carolin Pflueger & Luis M. Viceira

**Measuring the ''World'' Real Interest Rate**

*by*Mervyn King & David Low

**Market Set-Up in Advance of Federal Reserve Policy Decisions**

*by*Dick van Dijk & Robin L. Lumsdaine & Michel van der Wel

**Can interest rate spreads stabilize the euro area?**

*by*Michał Brzoza-Brzezina & Jacek Kotłowski & Kamil Wierus

**Interest rate pass-through in Poland. Evidence from individual bank data**

*by*Ewa Stanisławska

**Credit rating agency downgrades and the Eurozone sovereign debt crises**

*by*Christopher F Baum & Margarita Karpava & Dorothea Schäfer & Andreas Stephen

**Heterogeneous monetary transmission process in the Eurozone: Does banking competition matter?**

*by*Aurélien Leroy & Yannick Lucotte

**A macro-financial analysis of the euro area sovereign bond market**

*by*Hans Dewachter & Leonardo Iania & Marco Lyrio & Maite de Sola Perea

**Information in the yield curve: A Macro-Finance approach**

*by*Hans Dewachter & Leonardo Iania & Marco Lyrio

**Learning about Rare Disasters: Implications For Consumption and Asset Prices**

*by*Max Gillman & Michal Kejak & Michal Pakos

**Learning about Rare Disasters: Implications For Consumption and Asset Prices**

*by*Max Gillman & Michal Kejak & Michal Pakos

**Stability and Identification with Optimal Macroprudential Policy Rules**

*by*Jean-Bernard Chatelain & Kirsten Ralf

**The Macroeconomic Determinants of the US Term-Structure during the Great Moderation**

*by*Alessia Paccagnini

**Household Risk Management and Actual Mortgage Choice in the Euro Area**

*by*Ehrmann, Michael & Ziegelmeyer, Michael

**How Effective Is Central Bank Forward Guidance?**

*by*Clemens J. M. Kool Author-Name-First Clemens J. M. & Daniel L. Thornton Author-Name-First Daniel L.

**Fiscal shocks and the exchange rate**

*by*Giorgio Di Giorgio Author-Name-First Giorgio & Salvatore Nistico' Author-Name-First Salvatore & Guido Traficante Author-Name-First Guido

**The Determinants of Long-Term Japanese Government Bonds' Low Nominal Yields**

*by*Tanweer Akram & Anupam Das

**Endogenous Money and the Natural Rate of Interest: The Reemergence of Liquidity Preference and Animal Spirits in the Post-Keynesian Theory of Capital Markets**

*by*Philip Pilkington

**International yield curve comovements: impact of the recent financial crisis**

*by*Simeon Coleman & Kavita Sirichand

**Uncertain Risk and Return in Bond Markets, I**

*by*Chan R. Mang

**A Flexible Non Linear Model to Test the Expectation Hypothesis of Interest Rates**

*by*Jean-Michel Sahut

**Is India ready for flexible inflation-targeting?**

*by*Abhijit Sen Gupta & Rajeswari Sengupta

**Banks competition, managerial efficiency and the interest rate pass-through in India**

*by*Jugnu Ansari & Ashima Goyal

**Japanese Repo and Call Markets Before, During, and Emerging from the Financial Crisis**

*by*Ichiro Fukunaga & Naoya Kato

**Monetary Policy as a Carry Trade**

*by*Marvin Goodfriend

**We Are All QE-sians Now**

*by*Takatoshi Ito

**Gamma discounters are short-termist**

*by*Gollier, Christian

**Inflation Targeting in Colombia, 2002-2012**

*by*Miguel Urrutia & Franz Hamann & Marc Hofstetter

**Does Innovation Affect Credit Access? New Empirical Evidence from Italian Small Business Lending**

*by*Andrea Bellucci & Ilario Favaretto & Germana Giombini

**Modelo VEC para la estimación de inflación bursátil: Evidencia empírica en mercados norteamericanos**

*by*Juan José Jordán Sánchez

**The integration of credit default swap markets in the pre and post-subprime crisis in common stochastic trends**

*by*Cathy Yi-Hsuan Chen & Wolfgang Karl HÃ¤rdle & Hien Pham-Thu &

**Unemployment benefits extensions at the zero lower bound on nominal interest rate**

*by*Julien Albertini & Arthur Poirier & &

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**Attributing Returns and Optimising United States Swaps Portfolios Using an Intertemporally-Consistent and Arbitrage-Free Model of the Yield Curve**

*by*Leo Krippner

**Investigating the Relationships between the Yield Curve, Output and Inflation using an Arbitrage-Free Version of the Nelson and Siegel Class of Yield Curve Models**

*by*Leo Krippner

**Investigating the Relationships between the Yield Curve, Output and Inflation using an Arbitrage-Free Version of the Nelson and Siegel Class of Yield Curve Models**

*by*Leo Krippner

**An Intertemporally-Consistent and Arbitrage-Free Version of the Nelson and Siegel Class of Yield Curve Models**

*by*Leo Krippner

**An Intertemporally-Consistent and Arbitrage-Free Version of the Nelson and Siegel Class of Yield Curve Models**

*by*Leo Krippner

**A Control Variate Method for Monte Carlo Simulations of Heath-Jarrow-Morton with Jumps**

*by*Carl Chiarella & Christina Nikitopoulos-Sklibosios & Erik Schlogl

**The Volatility Structure of the Fixed Income Market under the HJM Framework: A Nonlinear Filtering Approach**

*by*Carl Chiarella & Hing Hung & Thuy-Duong To

**The Volatility Structure of the Fixed Income Market under the HJM Framework: A Nonlinear Filtering Approach**

*by*Carl Chiarella & Thuy-Duong To

**A note on the Malliavin differentiability of the Heston volatility**

*by*Elisa Alòs & Christian-Olivier Ewald

**New-Keynesian Macroeconomics and the Term Structure**

*by*Seonghoon Cho & Antonio Moreno & Geert Bekaert

**Labor Income and the Demand for Long-term Bonds**

*by*Koijen, R.S.J. & Nijman, T.E. & Werker, B.J.M.

**Expectations, Bond Yields and Monetary Policy**

*by*Albert Lee Chun

**Curve Forecasting by Functional Autoregression**

*by*A. Onatski & V. Karguine

**TIPS: Taking Inflation Premium Seriously**

*by*Min Wei & Stefania D'Amico & Don H. Kim

**The Recent Shift in Term Structure Behavior from a No-Arbitrage Macro-Finance Perspective**

*by*Tao Wu & Glenn Rudebusch

**Inflation Targeting, Committee Decision Making and Uncertainty: The Case of the Bank of Englandâ€™s MPC**

*by*Arnab Bhattacharjee & Sean Holly

**Cousin risks: the extent and the causes of positive correlation between country and currency risks**

*by*Marcio Gomes Pinto Garcia & Alexandre Lowenkron

**Monetary Policy and the Term Structure of Interest Rates**

*by*Juha Seppala & Federico Ravenna

**Tax Riots**

*by*Christopher Phelan & Marco Bassetto

**No-Arbitrage Taylor Rules**

*by*Andrew Ang & Sen Dong

**Macroeconomic Determinants of the Movement of the Yield Curve**

*by*Vargas, Gregorio A.

**Implied Volatilities of Caps: a Gaussian approach**

*by*Flavio Angelini & Stefano Herzel

**Do Macro Variables, Asset Markets or Surveys Forecast Inflation Better?**

*by*Andrew Ang & Geert Bekaert & Min Wei

**Self-Fulfilling Currency Crises: The Role of Interest Rates**

*by*Christian Hellwig & Arijit Mukherji & Aleh Tsyvinski

**Money Growth and Interest Rates**

*by*Seok-Kyun Hur

**A less effective monetary transmission in the wake of EMU? Evidence from lending rates pass-through**

*by*Gianluca Di Lorenzo & Giuseppe Marotta

**The aim of the present work is to test the predictive power of the term spread in forecasting real economic growth rates and recession probabilities in Italy. According to the most recent literature, the relationship between the term spread and economic growth rates is modelled as a nonlinear one and specifically the Logistic Smooth Transition model is used, while a probit model is implemented to forecast recession probabilities. In both applications evidence supports a relevant informative content of the spread in Italy**

*by*Costanza Torricelli & Marianna Brunetti

**A less effective monetary transmission in the wake of EMU? Evidence from lending rates pass-through**

*by*Gianluca Di Lorenzo & Giuseppe Marotta

**Repegging of the Lats to the Euro: Implications for the Financial Sector**

*by*Viktors Ajevskis & Armands Pogulis

**On the predictability of common risk factors in the US and UK interest rate swap markets: Evidence from non-linear and linear models**

*by*Ilias Lekkos & Costas Milas & Theodore Panagiotidis

**On the predictability of common risk factors in the US and UK interest rate swap markets:Evidence from non-linear and linear models**

*by*Ilias Lekkos & Costas Milas & Theodore Panagiotidis

**The Term Structure of Interest Rates under Regime Shifts and Jumps**

*by*Shu Wu & Yong Zeng

**Monetary Policy and Long-term Interest Rates**

*by*Shu Wu

**Interest rate pass-through estimates from vector autoregressive models**

*by*Johann Burgstaller

**International Capital Flows and U.S. Interest Rates**

*by*Francis E. Warnock & Veronica C. Warnock

**The Yield Curve Slope and Monetary Policy Innovations**

*by*Gamber, Edward N. & Joutz, Frederick L.

**Modeling the FIBOR/EURIBOR Swap Term Structure: An Empirical Approach**

*by*Oliver Blaskowitz & Helmut Herwartz & Gonzalo de Cadenas Santiago

**US Monetary Policy Announcements and the Term Structure of Interest Rate Differentials: Evidence from Hong Kong and Singapore**

*by*Giorgio Valente

**The Rate of Return of Pay-As-You-Go Pension Systems: A More Exact Consumption-Loan Model of Interest**

*by*Settergren, Ole & Mikula, Boguslaw D.

**Some Further Evidence on Interest-Rate Smoothing: The Role of Measurement Errors in the Output Gap**

*by*Apel, Mikael & Jansson, Per

**Identifying the Interdependence between US Monetary Policy and the Stock Market**

*by*Bjørnland, Hilde C. & Leitemo, Kai

**Bidding and Performance in Repo Auctions: Evidence from ECB Open Market Operations**

*by*Bindseil, Ulrich & Nyborg, Kjell G. & Strebulaev, Ilya A.

**A framework for understanding inflation - with or without money**

*by*Bengtsson, Ingemar

**Identifying the interdependence between US monetary policy and the stock market**

*by*Bjørnland , Hilde & Leitemo, Kai

**Bank interest rates in a small European economy: Some exploratory macro level analyses using Finnish data**

*by*Kauko , Karlo

**A Tale of Two Effects**

*by*Paul Evans & Xiaojun Wang

**Bidding and Performance in Repo Auctions: Evidence from ECB Open Market Operations**

*by*Kjell G. Nyborg & Ulrich Bindseil & Ilya A. Strebulaev

**Immunization Using a Parametric Model of the Term Structure**

*by*Jorge Miguel Ventura Bravo & Carlos Manuel Pereira da Silva

**Efficient Rank Reduction of Correlation Matrices**

*by*Grubisic, I. & Pietersz, R.

**Generic Market Models**

*by*Pietersz, R. & van Regenmortel, M.

**Consumer Confidence and Yield Spreads in Europe**

*by*Ferreira García, María Eva & Rubio Irigoyen, Gonzalo & Martínez, María Isabel & Navarro, Eliseo

**The importance of the wording of the ECB**

*by*Carlo Rosa & Giovanni Verga

**The bank lending survey for the euro area**

*by*Jesper Berg & Annalisa Ferrando & Gabe de Bondt & Silvia Scopel

**Forecasting Interest Rates - A Comparative Assessment Of Some Second Generation Non-Linear Models**

*by*Dilip M. Nachane & Jose G. Clavel

**Is a Word to the Wise Indeed Enough? ECB Statements and the Predictibility of Interest Rate Decisions**

*by*David-Jan Jansen & Jakob de Haan

**Fisher Hypothesis Revisited: A Fractional Cointegration Analysis**

*by*Saadet Kirbas Kasman & Adnan Kasman & Evrim Turgutlu

**A Two-Stage Realized Volatility Approach to the Estimation for Diffusion Processes from Discrete Observations**

*by*Peter C.B. Phillips & Jun Yu

**Term Structure Linkages Among the New EU Countries and the EMU**

*by*Minoas Koukouritakis & Leo Michelis

**The Term Structures of Interest Rates in the New and Prospective EU Countries**

*by*Minoas Koukouritakis & Leo Michelis

**Term Structure Estimation with Survey Data on Interest Rate Forecasts**

*by*Kim, Don H. & Orphanides, Athanasios

**The Empirical Failure of the Expectations Hypothesis of the Term Structure of Bond Yields**

*by*Sarno, Lucio & Thornton, Daniel L & Valente, Giorgio

**Why Are Returns on Swiss Franc Assets So Low? Rare Events May Solve the Puzzle**

*by*Kugler, Peter & Weder di Mauro, Beatrice

**Time Variation in Term Premia: International Evidence**

*by*Jongen, Ron & Verschoor, Willem F C & Wolff, Christian C

**The Predictive Power of the Yield Spread: Further Evidence and A Structural Interpretation**

*by*Favero, Carlo A. & Kaminska, Iryna & Söderström, Ulf

**Central Bank Forecasts and Disclosure Policy: Why it Pays to be Optimistic**

*by*Eijffinger, Sylvester C W & Tesfaselassie, Mewael F.

**The Role of Asymmetries and Regime Shifts in the Term Structure of Interest Rates**

*by*Clarida, Richard & Sarno, Lucio & Taylor, Mark P & Valente, Giorgio

**The CNB's Policy Decisions - Are They Priced in by the Markets?**

*by*David Navratil & Viktor Kotlan

**The Consumption-Based Determinants of the Term Structure of Discount Rates**

*by*Christian Gollier

**Inflation Expectations in the Czech Interbank Market**

*by*Martin Fukac

**The Importance of the Wording of the ECB**

*by*Carlo Rosa & Giovanni Verga

**Inflation Targeting, Committee Decision Making and Uncertainty: The case of the Bank of England’s MPC**

*by*Bhattacharjee, A. & Holly, S.

**Why are Returns on Swiss Franc Asset so Low?**

*by*Peter Kugler & Beatrice Weder

**Monetary Policy Uncertainty and Market Interest Rates**

*by*Ryo Kato & Yoshifumi Hisata

**The Effects of the Bank of Japan's Zero Interest Rate Commitment and Quantitative Monetary Easing on the Yield Curve: A Macro-Finance Approach**

*by*Nobuyuki Oda & Kazuo Ueda

**How Do Monetary Policy Rules Affect Term Premia?**

*by*Hibiki Ichiue

**The natural real interest rate and the output gap in the euro area: A joint estimation**

*by*Julien Garnier & Bjørn-Roger Wilhelmsen

**Japan's deflation, problems in the financial system and monetary policy**

*by*Naohiko Baba & Shinichi Nishioka & Nobuyuki Oda & Masaaki Shirakawa & Kazuo Ueda & Hiroshi Ugai

**The role of the natural rate of interest in monetary policy**

*by*Jeffery D. Amato

**Are there asymmetries in the response of bank interest rates monetary shocks?**

*by*Leonardo Gambacorta & Simonetta Iannotti

**The role of global risk aversion in explaining Latin American sovereign spreads**

*by*Alicia García-Herrero & Álvaro Ortiz

**Estimating the natural interest rate for the euro area and Luxembourg**

*by*Ladislav Wintr & Paolo Guarda & Abdelaziz Rouabah

**The Canadian Macroeconomy and the Yield Curve: An Equilibrium-Based Approach**

*by*René Garcia & Richard Luger

**Can Jurisdictional Uncertainty And Capital Controls Explain The High Level Of Real Interest Rates In Brazil? Evidence From Panel Data**

*by*Fernando M. Gonçalves & Márcio Holland & Andrei D. Spacov

**The Effect Of Labour Share On The Natural Rate Of Interest: Some Empirical Evidence**

*by*Pedro Gomes & Pedro Bom & Pedro Leão

**Recent developments in Australian bond yields**

*by*Benjamin Ford & Karen Taylor

**Interest Rate Rules, Price Determinacy and the Value of Money in a non Ricardian World**

*by*Jean-Pascal Benassy

**Changing Beliefs and the Term Structure of Interest Rates: Cross-Equation Restrictions with Drifting Parameters**

*by*Timothy Cogley

**Una rivisitazione delle teorie di Modigliani sulla finanza**

*by*Terenzio Cozzi

**The stabilization mechanism of ultra short-term interest rates in the context of Czech national bank's repo tenders**

*by*Karel Brůna

**Special Data Section Domestic Debt Markets in Sub-Saharan Africa**

*by*Jakob Christensen

**The Natural Rate of Interest — Concepts and Appraisal for the Euro Area**

*by*Ernest Gnan & Doris Ritzberger-Grünwald

**Kamatátgyűrűzés Magyarországon**

*by*Naszódi, Anna & Krekó, Judit & Horváth, Csilla

**El Tramo Corto de la Estructura a Plazo como Predictor de Expectativas de la Actividad Económica en Colombia**

*by*Luis E Arango & Luz Adriana Flórez & Angélica M Arosemena

**The Behavior of Interest Rate Differentials Under Shifting Exchange Rate Regimes: The Experience of Chile, Colombia and Israel**

*by*Carlos Ibarra

**America's Deficit, the World's Problem: Keynote Speech**

*by*Obstfeld, Maurice

**Searching for Non-monotonic Effects of Fiscal Policy: New Evidence**

*by*Giavazzi, Francesco & Jappelli, Tullio & Pagano, Marco & Benedetti, Marina

**Marking to Market, Liquidity, and Financial Stability**

*by*Plantin, Guillaume & Sapra, Haresh & Shin, Hyun-Song

**Japan's Deflation, Problems in the Financial System, and Monetary Policy**

*by*Baba, Naohiko & Nishioka, Shinichi & Oda, Nobuyuki & Shirakawa, Masaaki & Ueda, Kazuo & Ugai, Hiroshi

**The "Middle-Risk Gap" and Financial System Reform: Small-Firm Financing in Japan**

*by*Schaede, Ulrike

**Monetary and Fiscal Policy to Escape from a Deflationary Trap**

*by*Iwamoto, Yasushi

**Do Actions Speak Louder Than Words? The Response of Asset Prices to Monetary Policy Actions and Statements**

*by*Refet S Gürkaynak & Brian Sack & Eric Swanson

**Determinants of Long-term Interest Rates in the Czech Republic**

*by*Tomáš Holinka

**Do the Measurements of Financial Market Inflation Expectations Yield Relevant Macroeconomic Information?**

*by*Martin Fukaè

**Is the CNB Predictable?**

*by*David Navrátil & Viktor Kotlán

**The Management Of Interest Rate Risk In Small And Medium Banks**

*by*HALID KONJHODŽIC & TONCI SVILOKOS

**Monetary policy and the expectations hypothesis**

*by*D. Vestin & Hordahl & P.

**Why are long rates sensitive to monetary policy?**

*by*Ulf Soderstrom & Tore Ellingsen

**Liquidity Effects in non-Ricardian Economies**

*by*Jean-Pascal Benassy

**On the Feasibility of Debt Ponzi Schemes - A Bond Portfolio Approach**

*by*Martin Barbie & Marcus Hagedorn

**Cousin Risks: The Extent and the Causes of Positive Correlation between Country and Currency Risks**

*by*Marcio Garcia & Alexandre Lowenkron

**Estimation of the Volatility Structure of the Fixed Income Market**

*by*Thuy Duong To & Carl Chiarella

**Intertemporal Consumption and Consumer Demand**

*by*Keith R. McLaren & H. Youn Kim & Russel J. Cooper

**Term Structure Dynamics: A Daily View from the Hungarian Foreign Currency Deposits Markets**

*by*Konstantinou, Panagiotis

**Over- and underbidding in central bank open market operations conducted as fixed rate tender**

*by*Bindseil, Ulrich

**Expected budget deficits and interest rate swap spreads - Evidence for France, Germany and Italy**

*by*Heppke-Falk, Kirsten H. & Hüfner, Felix P.

**Interest rate reaction functions for the euro area Evidence from panel data analysis**

*by*Ruth, Karsten

**How the Bundesbank really conducted monetary policy: An analysis based on real-time data**

*by*Gerberding, Christina & Worms, Andreas & Seitz, Franz

**Towards a Joint Characterization of Monetary Policy and the Dynamics of the Term Structure of Interest Rates**

*by*Fendel, Ralf

**The Ideal Inflation Indexed Bond and Irving Fisher's Impatience Theory of Interest in an Overlapping Generations World**

*by*John Geanakoplos

**Optimal Monetary Policy under Heterogeneous Expectations**

*by*Orlando Gomes

**Are Europe Interest Rates led by FED's Announcements?**

*by*Monticini & Vaciago

**The Case for Open-Market Purchases in a Liquidity Trap**

*by*Alan Auerbach & Maurice Obstfeld

**Nonlinear dynamics of interest rate and inflation**

*by*Markku Lanne

**Learning, inflation expectations and optimal monetary policy**

*by*Eric Schaling

**Dynamics of Interest Rate Curve by Functional Auto-Regression**

*by*Vladislav Kargin & Alexei Onatski

**Liquidity Trap Prevention and Escape: A Simple Proposition**

*by*Junning Cai

**The Information Content of the Natural Rate of Interest: The Case of Poland**

*by*Michal Brzoza-Brzezina

**The Role Of Global Risk Aversion In Explaining Latin American Sovereign Spreads**

*by*ALICIA GARCIA HERRERO & ALVARO ORTIZ

**Calibration of Interest Rate Models - Transition Market Case**

*by*Martin Vojtek

**Riding the Yield Curve: Diversification of Strategies**

*by*David S. Bieri & Ludwig B. Chincarini

**Dynamic Risk Profile of the US Term Structure by Wavelet MRA**

*by*SUTTHISIT JAMDEE & CORNELIS A. LOS

**Taking Positive Interest Rates Seriously**

*by*Enlin Pan & Liuren Wu

**Estimating the Volatility Structure of an Arbitrage-Free Interest Rate Model Via the Futures Markets**

*by*Ram Bhar & Carl Chiarella & Thuy-Duong To

**Overnight Indexed Swaps and Floored Compounded Instrument in HJM One-Factor Model**

*by*Marc Henrard

**On the Small Sample Properties of Dickey Fuller and Maximum Likelihood Unit Root Tests on Discrete-Sampled Short-Term Interest Rates**

*by*Paulo M. M. Rodrigues & Antonio Rubia

**Structural Breaks, Inflation and Interest Rates: Evidence for the G7 countries**

*by*Jesus Clemente & Antonio Montañes & Marcelo Reyes

**Interest Rate Pass-Through in New EU Member States: The Case of the Czech Republic, Hungary and Poland**

*by*Jesús Crespo-Cuaresma & Balázs Égert & Thomas Reininger

**Trust In Transition: Cross Country And Firm Evidence**

*by*Martin Raiser & Alan Rousso & Franklin Steves

**A Note on the Bias of using Futures Rates as a Proxy for the Instantaneous Forward Rate**

*by*Thuy-Duong To

**A Markovian Defaultable Term Structure Model with State Dependent Volatilities**

*by*Carl Chiarella & Erik Schlögl & Christina Nikitopoulos-Sklibosios

**A Comparison of Alternative Nonparametric Estimators of the Short Rate Diffusion Coefficient**

*by*Roberto Reno' & Antonio Roma & Stephen Schaefer

**Nonparametric Estimation of the Diffusion Coefficient via Fourier Analysis, with Aplication to Short Rate Modeling**

*by*Roberto Reno'

**Credit rationing and crowding out during the Industrial Revolution: Evidence from Hoare's Bank, 1702-1862**

*by*Peter Temin & Joachim Voth

**Quadratic term structure models with jumps in incomplete currency markets**

*by*Daal, Elton

**The value of interest rate stabilization polices when agents are learning**

*by*Duffy, John & Xiao, Wei

**Nonparametric Estimation of Convergence of Interest Rates: Effects on Bond Pricing**

*by*Teresa Corzo Santamaría & Javier Gómez Biscarri

**Leaning Against the Parity**

*by*Alex Luiz Ferreira

**Heterogeneous Information about the Term Structure of Interest rates, Least-Squares Learning and Optimal Interest Rate Rules for Inflation Forecast Targeting**

*by*Schaling, E. & Eijffinger, S.C.W. & Tesfaselassie, M.F.

**Credit Rationing Effects of Credit Value-at-Risk**

*by*Jan Frederik Slijkerman & David J.C. Smant & Casper G. de Vries

**Future Fiscal and Budgetary Shocks**

*by*Hian Teck Hoon & Edmund S Phelps

**Financial Factors, Macroeconomic Information and the Expectations Theory of the Term Structure of Interest Rates**

*by*Iryna Kaminska & Andrea Carriero & Carlo A. Favero

**Cointegration and Regime-Switching Risk Premia in the U.S. Term Structure of Interest Rates**

*by*PeterTillmann

**Does the Term Spread Play a Role in the Fed's Reaction Function? An Empirical Investigation**

*by*Jesus Vazquez

**Application Of The Kalman Filter For Estimating Continuous Time Term Structure Models: Evidence From The Uk And Germany**

*by*Rana Chatterjee

**Filtering Long-Run Inflation Expectations with a Structural Macro Model of the Yield Curve**

*by*Marco Lyrio & Hans Dewachter

**Targeting Inflation by Forecast Feedback Rules in Small Open Economies**

*by*Kai Leitemo

**Permanent and Transitory Policy Shocks in an Empirical Macro Model with Asymmetric Information**

*by*P.A. Tinsley & Sharon Kozicki

**Competition, transmission and bank pricing policies: Evidence from Belgian loan and deposit markets**

*by*F. DE GRAEVE & O. DE JONGHE & R. VANDER VENNET

**Daily interbank rate determination and volatility in a banking crisis**

*by*Sanchez-Fung, Jose R.

**A Macro-Finance Model of the Term Structure, Monetary Policy, and the Economy**

*by*Tao Wu & Glenn Rudebusch

**Modelling the Yield Curve: A Two Components Approach**

*by*John Hatgioannides & Menelaos Karanasos & Marika Karanassou

**La Curva de Retorno y el Modelo C-CAPM: Evidencia para Chile**

*by*González, Manuel

**Money, credit and the interest rate in Marx's economic. On the similarities of Marx's monetary analysis to Post-Keynesian economics**

*by*Hein, Eckhard

**Estimating a time varying neutral real interest rate for New Zealand**

*by*Olivier Basdevant & Nils Björksten & Özer Karagedikli

**The Yield Curve, Recessions and the Credibility of the Monetary Regime: Long Run Evidence 1875-1997**

*by*Michael D. Bordo & Joseph G Haubrich

**Monetary and Fiscal Remedies for Deflation**

*by*Alan Auerbach & Maurice Obstfeld

**The Determinants of Pass-Through of Market Conditions to Bank Retail Interest Rates in Belgium**

*by*Ferre De Graeve & Olivier De Jonghe & Rudi Vander Vennet

**Bayesian Analysis of Continuous Time Models of the Australian Short Rate**

*by*Andrew D. Sanford & Gael Martin

**Crise de change et politique monétaire optimale dans un modèle de troisième génération : le rôle de la prime de risque**

*by*Vincent Bouvatier

**Interest rate pass-through in Hungary**

*by*Csilla Horváth & Judit Krekó & Anna Naszódi

**Demand and supply in the ECB's main refinancing operations**

*by*Livio Stracca & Clara Martin Moss & Livio Stracca

**Risk factors of inflation-indexed and conventional government bonds and the APT**

*by*Andreas Reschreiter

**Macro factors and the term structure of interest rates**

*by*Hans Dewachter

**Money market rates and implied CCAPM rates: some international evidence**

*by*Yamin Ahmad

**Foreign Exchange and Money Markets in the Context of the Exchange Rate Target Zone**

*by*Viktors Ajevskis & Armands Pogulis & Gunars Berzins

**On The Small Sample Properties Of Dickey Fuller And Maximum Likelihood Unit Root Tests On Discrete-Sampled Short-Term Interest Rates**

*by*Paulo M.M. Rodrigues & Antonio Rubia

**The Consumption-Based Determinants of the Term Structure of Discount Rates**

*by*Gollier, Christian

**Far Out on the Yield Curve**

*by*Alexius, Annika

**Excess Sensitivity and Volatility of Long Interest Rates: The Role of Limited Information in Bond Markets**

*by*Beechey, Meredith

**Why Are Long Rates Sensitive to Monetary Policy?**

*by*Ellingsen, Tore & Söderström, Ulf

**On Finite Dimensional Realizations of Forward Price Term Structure Models**

*by*Gaspar, Raquel M.

**General Quadratic Term Structures of Bond, Futures and Forward Prices**

*by*Gaspar, Raquel M.

**Heterogeneous information about the term structure, least-squares learning and optimal rules for inflation targeting**

*by*Schaling , Eric & Eijffinger , Sylvester & Tesfaselassie , Mewael

**Measuring the long-term perception of monetary policy and the term structure**

*by*Rautureau, Nicolas

**A flexible prior distribution for Markov switching autoregressions with Student-t errors**

*by*Deschamps, Philippe J.

**The Deficit?Interest Rate Connection: an empirical assessment of the EU**

*by*Carlos Vieira

**Does the Term Spread play a role in the FED's reaction function? An Empirical Investigation**

*by*Vázquez Pérez, Jesús

**Jackknifing Bond Option Prices**

*by*Jun Yu & Peter Phillips

**Heterogeneous Information about the Term Structure of Interest Rates, Least-Squares Learning and Optimal Interest Rate Rules for Inflation Forecast Targeting**

*by*Mewael Tesfaselassie & Eric Schaling & Sylvester Eijffinger

**The Friedman Rule in a Two Sector Small Open Economy**

*by*Alexandre Cunha

**A joint econometric model of macroeconomic and term structure dynamics**

*by*Peter Hoerdahl & Oreste Tristani

**A General Equilibrium Model of the Term Structure of Interest Rates under Regime-switching Risk**

*by*Yong Zeng & Shu Wu

**Cointegration and Regime-Switching Risk Premia in the US Term Structure of Interest Rates**

*by*Peter Tillmann

**Dynamics of Interest Rate Curve by Functional Auto-regression**

*by*Alexei Onatski & Slava Kargin

**The Yield Curve, Recession and the Credibility of the Monetary Regime: long run evidence 1875-1997**

*by*Michael Bordo & Joseph Haubrich

**Fear of Sudden Stops: lessons from Australia and Chile**

*by*Jonathan Kearns & Ricardo J. Caballero & Kevin Cowan

**FINANCIAL DOLLARIZATION: Evaluating the consequences**

*by*Eduardo Levy-Yeyati

**Dedollarization, Indexation and Nominalization: the Chilean experience**

*by*R. Valdes & L.O. Herrera

**Why Can the Yield Curve Predict Output Growth, Inflation, and Interest Rates? An Analysis with Affine Term Structure Model**

*by*Hibiki Ichiue

**Nonlinearity in the Term Structure**

*by*Dong Heon Kim

**Forecasting Australian GDP Growth Using Coefficients Constrained by A Term Structure Model**

*by*Farshid Vahid & Lin Luo

**Gold, Fiat and Credit. An Elementary Discussion of Commodity Money, Fiat Money and Credit, Part II**

*by*Thomas Quint & Martin Shubik

**A Consumable Money. An Elementary Discussion of Commodity Money, Fiat Money and Credit: Part I**

*by*Thomas Quint & Martin Shubik

**Interest Rate Setting by the ECB: Words and Deeds**

*by*Gerlach, Stefan

**Federal Funds Rate Prediction**

*by*Sarno, Lucio & Thornton, Daniel L & Valente, Giorgio

**International Portfolio Holdings and Swiss Franc Asset Returns**

*by*Kugler, Peter & Weder di Mauro, Beatrice

**Sovereign Risk Premia in the European Bond Market**

*by*Bernoth, Kerstin & Schuknecht, Ludger & von Hagen, Jürgen

**The Case for Open-Market Purchases in a Liquidity Trap**

*by*Auerbach, Alan J & Obstfeld, Maurice

**Bidding and Performance in Repo Auctions: Evidence from ECB Open Market Operations**

*by*Bindseil, Ulrich & Nyborg, Kjell G & Strebulaev, Ilya

**Why are Long Rates Sensitive to Monetary Policy?**

*by*Ellingsen, Tore & Söderström, Ulf

**The Yield Spread as a Symmetric Predictor of Output and Inflation**

*by*Hardouvelis, Gikas A & Malliaropoulos, Dimitrios

**Financial Factors, Macroeconomic Information and the Expectations Theory of the Term Structure of Interest Rates**

*by*Carriero, Andrea & Favero, Carlo A. & Kaminska, Iryna

**Heterogenous Information About the Term Structure of Interest Rates, Least-Squares Learning and Optimal Interest Rate Rules**

*by*Eijffinger, Sylvester C W & Schaling, Eric & Tesfaselassie, Mewael F.

**On Model Selection and Markov Switching: A Empirical Examination of Term Structure Models with Regime Shifts**

*by*Driffill, John & Kenc, Turalay & Sola, Martin & Spagnolo, Fabio

**Tasas de interés efectivas y nominales: el calvario de los estudiantes de finanzas**

*by*Ignacio Vélez-Pareja

**Expectativas De Actividad Económica En Colombia Y Estructura A Plazo: Un Poco Más De Evidencia**

*by*Luis Eduardo Arango & Luz Adriana Flórez

**Calibration of Interest Rate Models - Transition Market Case**

*by*Martin Vojtek

**Switching Regimes in the Term Structure of Interest Rates During U.S. Post-War: A case for the Lucas proof equilibrium?**

*by*Jesús Vázquez

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*by*Óscar Bajo Rubio & Carmen Díaz Roldán & Vicente Esteve

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**Reaction Function Estimation when Central Banks Face Adjustment Costs**

*by*Roszbach, Kasper

**Structure des taux d’intérêt et consommation**

*by*Frédéric APRAHAMIAN & Georges FIORI & Philippe MICHEL

**Why Does the Yield Curve Predict Economic Activity? Dissecting the Evidence for Germany and the United States**

*by*Smets, Frank & Tsatsaronis, Kostas

**Extracting Information from Asset Prices: The Methodology of EMU Calculators**

*by*Favero, Carlo A. & Giavazzi, Francesco & Iacone, Fabrizio & Tabellini, Guido

**Real Interest Rates, Nominal Shocks, and Real Shocks**

*by*Driffill, John

**Stock Returns, Term Structure, Inflation and Real Activity: An International Perspective**

*by*Canova, Fabio & de Nicolò, Gianni

**Monetary Policy and the Fisher Effect**

*by*Söderlind, Paul

**New Techniques to Extract Market Expectations from Financial Instruments**

*by*Söderlind, Paul & Svensson, Lars E O

**Cointegration and Market Efficiency: An Application to the Canadian Treasury Bill Market**

*by*Park, S.B.

**The Ex Ante Predictive Accuracy of Alternative Models of the Term Structure of Interest Rates**

*by*Basma Bekdache & Christopher F. Baum

**La théorie des anticipations de la structure par terme : test à partir des titres publics français**

*by*Jondeau, E. & Ricart, R.

**Le contenu en information de la pente des taux : application au cas des titres publics français**

*by*Jondeau, E. & Ricart, R.

**Canadian Short-Term Interest Rates and the BAX Futures Markets: An Analysis of the Impact of Volatility on Hedging Activity and the Correlation of Returns Between Markets**

*by*Watt, D.G.M.

**The Structure of Interest Rates in Canada: Information Content about Medium-Term Inflation**

*by*Jim Day & Ron Lange

**Arbitrage bounds for the term structure of interest rates**

*by*Stefan R. Jaschke

**A note on pricing interest rate derivatives when forward LIBOR rates are lognormal**

*by*Beniamin Goldys

**LIBOR and swap market models and measures (*)**

*by*Farshid Jamshidian

**Continuous-time term structure models: Forward measure approach (*)**

*by*Marek Rutkowski & Marek Musiela

**Towards a general theory of bond markets (*)**

*by*Giovanni Di Masi & Tomas Björk & Wolfgang Runggaldier & Yuri Kabanov

**Government deficit, ex post real long-term interest rates and causality**

*by*R.J. CEBULA

**Government deficit, ex post real long-term interest rates and causality**

*by*R.J. CEBULA

**Indexed Bonds and Monetary Policy: The Real Interest Rate and the Expected Rate of Inflation**

*by*Kitamura, Yukinobu

**High Real Interest rates and Banking Crisis in an Open Economy: A Case Study of Chile, 1975-1983**

*by*Brock, P.L.

**On the Optimality of Interest Rate Smoothing**

*by*Rebelo, S. & Xie, D.

**Bank Markups, Horizontalism and the Significance of Banks's Liquidity Preference: An Empirical Assessment**

*by*Deriet, M. & Seccareccia, M.

**A Semi-Parametric Factor Model for Interest Rates**

*by*Ghysels, E. & Ng, S.

**New Techniques to Extract Market expectations from Financial Instruments**

*by*Söderlind, Paul & Svensson, Lars E.O.

**High Real Interest rates and Banking Crisis in an Open Economy: A Case Study of Chile, 1975-1983**

*by*Brock, P.L.

**Price and Change Rate determination Between Laos and Thailand**

*by*Joyeux, R. & Worner, W.E.

**International Interest Rates Linkage: Evidence from OCDE Countries**

*by*Monadjemi, M.S.

**On the Welfare Significance of National Product Under Interest-Rate Uncertainty**

*by*Weitzman, M-L

**Exchange Rate Dynamics and Learning**

*by*Gourinchas, P-O & Tornell, A

**Issues in the ECU Markets and Some Tentative Explanations fro Some Apparent Puzzles**

*by*Fell, J.P.C. & Levy, A.

**The Role of Short Rates and Foreign Long Rates in the Determination of Long-Term Interest Rates**

*by*Fell, J.P.C.

**The Prime Premium : Is Relationship Banking Too Costly for Some?**

*by*Beim, D-O

**Taux d'interet reels et inflation**

*by*Artus, P.

**Puzzling Integratedness of Interest Rates: A Case for Nonparametric Threshold Cointegration?**

*by*Cron, Axel & Jens Weidmann

**The Information Content of German Discount Rate Changes**

*by*Manfred J. M Neumann & Jens Weidmann

**Optimal Control of Linear Systems with Time Varying Drift Parameters: the Gaussian Case**

*by*Christopeit, Norbert

**What Does Consumption Tell Us about Inflation Expectations and Real Interest Rates?**

*by*Juan Ayuso & J. David López-Salido

**A two-mean reverting-factor model of the term structure of interest rates**

*by*Manuel Moreno

**On the term structure of Interbank interest rates: Jump-diffusion processes and option pricing**

*by*Manuel Moreno & Juan I. Peña

**Modelling the Australian Exchange Rate, Long Bond Yield and Inflationary Expectations**

*by*Alison Tarditi

**The Precision of Instrumental Variables Estimates With Grouped Data**

*by*Lara Shore-Sheppard

**An Empirical Note on the Impact of the Federal Budget Deficit on Ex Ante Real Long-Term, Interest Rates, 1973-1995**

*by*Cebula, Richard

**Inflation, Real Interest Rates, and the Bond Market: A Study of UK Nominal and Index-Linked Government Bond Prices**

*by*David G. Barr & John Y. Campbell

**Understanding Equilibrium Models with a Small and a Large Number of Agents**

*by*Wouter J. Den Haan

**Arbitrage Opportunities in Arbitrage-Free Models of Bond Pricing**

*by*David Backus & Silverio Foresi & Stanley Zin

**A Semi-Parametric Factor Model for Interest Rates**

*by*Ghysels, E. & Ng, S.

**Determinants of the expected real long-term interest rates in the G7-countries**

*by*Krämer, Jörg W.

**Financial liberalisation and interest rate risk management in sub-Saharan Africa**

*by*Willem Naudé

**Monetary Policy, Forward Rates and Long Rates: Does Germany Differ from the United States?**

*by*Favero, Carlo A. & Iacone, Fabrizio & Pifferi, Marco

**Exchange Rate Premia and the Credibility of the Crawling Target Zone in Hungary**

*by*Darvas, Zsolt

**Lognormality of Rates and Term Structure Models**

*by*Goldys, B. & M. Musiela & D. Sondermann

**German Unification and the EMS: A Non-Parametric Approach to the Asymmetry Question**

*by*Axel Cron, Jens Weidmann

**Nonlinear Nonparametric Prediction of the 90-Day T-Bill Rate**

*by*John Barkoulas & Christopher F. Baum & Joseph Onochie

**Fractional Differencing Modeling and Forecasting of Eurocurrency Deposit Rates**

*by*John Barkoulas & Christopher F. Baum

**Fractional Cointegration Analysis of Long Term International Interest Rates**

*by*John Barkoulas & Christopher F. Baum & Gurkan S. Oguz

**Nearest-Neighbor Forecasts of U.S. Interest Rates**

*by*John Barkoulas & Christopher F. Baum & Atreya Chakraborty

**Time-Varying Risk Premia in the Foreign Currency Futures Basis**

*by*John Barkoulas & Christopher F. Baum

**The Expectation Theory: Tests on French, German, and American Euro-Rates**

*by*Jondeau, E. & Ricart, R.

**Kamatparitás lebegő és csúszó leértékeléses árfolyamrendszerben**

*by*Barabás, Gyula

**Kamatkülönbség és árfolyam-várakozások az előre bejelentett kúszó árfolyamrendszerben**

*by*Darvas, Zsolt

**Inflation expectations and Real Return Bonds**

*by*Agathe Côté & Jocelyn Jacob & John Nelmes & Miles Whittingham

**Real short-term interest rates and expected inflation: Measurement and interpretation**

*by*Nicholas Ricketts

**Money Growth Variability and the Term Structure of Interest in Japan**

*by*Lynch, G-J & Ewing, B-T

**Forecasting Inflation from the Term Structure**

*by*Tzavalis, E. & Wickens, M.R.

**Regulatory Change and Bank Profitability in Italy**

*by*Calcagnini, G. & Hester, D.D.

**Single Factor Heath-Jarrow-Morton Term Structure Models Based on Markov Spot Interest Rate Dynamics**

*by*Andrew Mark Jeffrey

**The fundamental determinants of financial integration in the European Union**

*by*Lemmen, J.J.G. & Eijffinger, S.C.W.

**Sources of Variation in International Real Interest Rates**

*by*Allan W. Gregory & David G. Watt

**Some Lessons from the Yield Curve**

*by*John Y. Campbell

**Forward Interest Rates as Indicators of Inflation Expectations**

*by*Söderlind, Paul

**The Information Content of the Term Structure: Evidence for Germany**

*by*Gerlach, Stefan

**The Equity Premium and the Risk Free Rate: A Cross Country, Cross Maturity Examination**

*by*Canova, Fabio & de Nicolò, Gianni

**Real Interest Rates and Central Bank Operating Procedures**

*by*Canzoneri, Matthew B & Dellas, Harris

**An Analysis of the Real Interest Rate Under Regime Shifts**

*by*René Garcia & Pierre Perron

**Minimax Estimator for linear models with nonrandom disturbances**

*by*Christopeit, N. & V. L. Girko

**Determining the Value of a Financial Unit of Account Based on Composite Currencies: The Case of the Private ECU**

*by*David Folkerts-Landau & Peter M. Garber

**Explaining devaluation expectations in the EMS**

*by*Ulf Söderström & Alexis Stenfors

**Interest rate and inflation expectations in Finland 1987-1994 : a case for the inverted fisher hypothesis**

*by*Mika Linden

**Co-integration and the term structure of Finnish short-term interest rates**

*by*Markku Lanne

**Inflation Non-neutralities and the Response of Interest Rates to Inflation Expectations**

*by*Laurence H. Meyer & Anandi P. Sahu

**The term structure of interest rates as a leading indicator of economic activity: A technical note**

*by*Kevin Clinton

**The Monetary Transmission Mechanism: An Empirical Framework**

*by*John B. Taylor

**Some Lessons from the Yield Curve**

*by*John Y. Campbell

**The Credibility of the United Kingdom's Commitment to the ERM : Intentions versus Actions**

*by*Masson, Paul R

**Explaining Devaluation Expectations in the EMS**

*by*Stenfors, Alexis & Söderström, Ulf

**The French-German Interest Rate Differential since German Unification: The Impact of the 1992 and 1993 EMS Crisis**

*by*Henry, Jerome & Jens Weidmann

**Testing Long-run Neutrality: Empirical Evidence for G7-Countries with Special Emphasis on Germany**

*by*Weber, Axel

**Asymmetry in the EMS revisited: Evidence from the causality analysis of daily Eurorates**

*by*Henry, Jerome & Jens Weidmann

**Investition, Finanzierung und Sparen: einige Implikationen der Keynes-Robertson-Kontroverse über den "Revolving Fund"**

*by*Hein, Eckhard

**Monetary Policy and the Term Structure of Interest Rates**

*by*Bennett T. McCallum

**Reverse Engineering the Yield Curve**

*by*David K. Backus & Stanley E. Zin

**The Simplest Test of Inflation Target Credibility**

*by*Svensson, Lars E O

**Testing Long-run Neutrality: Empirical Evidence for G7 Countries with Special Emphasis on Germany**

*by*Weber, Axel A

**An Alternative Strategy for Estimation of a Nonlinear Model of the Term Structure of Interest Rates**

*by*Christopher F. Baum & Olin Liu

**Financial Structure, Bank Lending Rates, and the Transmission Mechanism of Monetary Policy**

*by*Carlo Cottarelli & Angeliki Kourelis

**Testing the Credibility of Belgium's Exchange Rate Policy**

*by*Ioannis Halikias

**Covered Interest Parity: Evidence from the U.S.- Canadian Money Markets**

*by*Hamid Baghestani

**Covered Interest Parity: Evidence from the U.S.- Canadian Money Markets**

*by*Hamid Baghestani

**The Simplest Test of Inflation Target Credibility**

*by*Lars E.O. Svensson

**Term, Inflation, and Foreign Exchange Risk Premia: A Unified Treatment**

*by*Lars E.O. Svensson

**A Model of Target Changes and the Term Structure of Interest Rates**

*by*Pierluigi Balduzzi & Giuseppe Bertola & Silverio Foresi

**Financial Openness and the Effectiveness of Capital Controls in Greece**

*by*Christodoulakis, Nikos & Karamouzis, Nick

**Liquidity Effects and the Determinants of Short-term Interest Rates in Italy (1991-92)**

*by*Angeloni, Ignazio & Prati, Alessandro

**Signalling Debt Sustainability**

*by*Drudi, Francesco & Prati, Alessandro

**Liquidity and Financial Intermediation**

*by*DUTTA, Jayasri & KAPUR, Sandeep

**French-German Interest Rate Differentials and Time-Varying Realignment Risk**

*by*Francesco Caramazza

**Asymmetry in the ERM: A Case Study of French and German Interest Rates Before and After German Unification**

*by*Edward H. Gardner & William R. M. Perraudin

**The Reform of Federal Deposit Insurance**

*by*Cebula, Richard

**The Impact of Federal Deposit Insurance on Savings and Loan Failures**

*by*Cebula, Richard

**Imperfect capital markets and persistence of initial wealth inequalities**

*by*Thomas Piketty

**Inflation and the Interest Rate in 1991**

*by*Maria Zhecheva & Roumen Avramov & Valentin Chavdarov

**Инфлацията И Лихвения Процент През 1991 Г**

*by*Maria Zhecheva & Roumen Avramov & Valentin Chavdarov

**Understanding the High Interest Rates on Italian Government Securities**

*by*Giovannini, Alberto & Piga, Gustavo

**Bretton Woods and its Precursors: Rules versus Discretion in the History of International Monetary Regimes**

*by*Giovannini, Alberto

**Dynamic Capital Mobility in Pacific Basin Developing Countries: Estimation and Policy Implications**

*by*Hamid Faruqee

**Fisherian Transmission and Efficient Arbitrage under Partial Financial Indexation: The Case of Chile**

*by*Enrique G. Mendoza

**Response [Great and Almost-Great Magnitudes for Economists]**

*by*Simon, Julian L

**Time-Varying Estimates on the Openness of the Capital Account in Korea and Taiwan**

*by*Helmut Reisen & Hélène Yèches

**Financial Innovations and the Distributional Effects of Interest Rate Changes in the UK**

*by*Philip Arestis & Peter Howells

**The Long-term Decline in Real Interest Rates: Comment**

*by*Clark, Gregory

**Some Structural Hypotheses in a Multivariate Cointegration Analysis of the Purchasing Power Parity and the Uncovered Interest Parity for UK**

*by*Søren Johansen & Katarina Juselius

**Large Deficits Produce High Interest Rates**

*by*Cebula, Richard & Schwartzburt, Mark & Scott, Gerald

**Deficits and Real Interest Rates: A Note Extending the Hoelscher Model**

*by*Cebula, Richard & Scott, Gerald

**A Note on Federal Budget Deficits and the Term Structure of Real Interest Rates in the United States**

*by*Cebula, Richard

**A Strategic Market Game with a Mutual Bank with Fractional Reserves and Redemption in Gold (A Continuum of Traders)**

*by*Martin Shubik & D.P. Tsomocos

**Determinants of Business Failure: A Time Series Analysis**

*by*Assadian, Afsaneh & Cebula, Richard

**An Empirical Note on Deficits, Interest Rates, and International Capital Flows**

*by*Cebula, Richard & Koch, James

**What is the role of the interest rate?**

*by*Luis E. Rivero Medina

**Currency speculation and dollar fluctuations**

*by*Stephan Schulmeister

**Currency speculation and dollar fluctuations**

*by*Stephan Schulmeister

**Federal Government Budget Deficits and Interest Rates: A Brief Note**

*by*Cebula, Richard

**Taux d'intérêt et quantité de monnaie : note sur la distinction entre deux sphères de circulation chez T. Tooke, K. Wicksell, J.M. Keynes et J.A. Schumpeter**

*by*de Boyer des Roches, Jérôme

**The Taxation Of Foreign Investment Income In Canada, The United States And Mexico**

*by*Glenn Jenkins & GRAHAM GLENDAY & DEVENDRANAUTH MISIR

**A Note on "Crowding Out" in the United States**

*by*Cebula, Richard & Cebula, Barbara

**The Role Of Canadian And United States Monetary Policy In The Determination Of Interest Rates In Canada**

*by*Glenn Jenkins & HENRY LIM

**The Role of the United States Monetary Stock in a Model of the Canadian Economy**

*by*Glenn Jenkins

**The Determinants Of The Nominal Interest Rate**

*by*Glenn Jenkins & HENRY LIM

**A Local Vector Autoregressive Framework and its Applications to Multivariate Time Series Monitoring and Forecasting**

*by*Ying Chen & Bo Li & Linlin Niu

**New Hope for the Fisher Effect? A Re-Examination Using Threshold Cointegration**

*by*Jens Weidmann

**Dynamic Factor Models with Smooth Loadings for Analyzing the Term Structure of Interest Rates**

*by*Borus Jungbacker & Siem Jan Koopman & Michel van der Wel

**Control of Generalized Error Rates in Multiple Testing**

*by*Joseph P. Romano & Michael Wolf

**Beta Regimes for the Yield Curve**

*by*Francesco Audrino & Enrico De Giorgi

**Optimal Allotment Policy in Central Bank Open Market Operations**

*by*Christian Ewerhart & Nuno Cassola & Steen Ejerskov & Natacha Valla

**The Lucas Critique in Practice: An Empirical Investigation of the Impact of European Monetary Integration on the Term Structure**

*by*Peter A.G. VanBergeijk & Jan Marc Berk

**An Open-Economy Macro-Finance Model of Internatinal Interdependence: The OECD, US and the UK**

*by*Peter Spencer & Zhuoshi Liu

**The Use Of Spreads In Forecasting Medium Term U.K Interest Rates**

*by*B. Pesaran & G. Wright

**The Role of Financial Sector Competition for Monetary Policy**

*by*Edgar A. Ghossoub & Robert Reed & Thanarak Laosuthi

**Central Bank Liquidity Provision and Financial Sector Competition This paper presents a general equilibrium production economy where money is essential and financial intermediaries provide important economic functions. In this setting, we study the effects of liquidity provision by the monetary authority under two different banking structures: a perfectly competitive and a fully concentrated banking system. When the banking sector is perfectly competitive, liquidity injections through an open market purchase stimulate capital investment and production. Interestingly, an expansionary monetary policy can become contractionary when the banking sector is fully concentrated. This necessarily happens in economies where government liabilities constitute a large fraction of total deposits and inflation is high. Moreover, we demonstrate that imperfect banking competition is a source of indeterminacy of dynamical equilibria. More specifically, the economy can display Hopf bifurcation. However, monetary policy plays an important role in controlling deterministic cycles and endogenous volatility that could arise under a fully concentrated banking sector**

*by*Hamid Beladi & Edgar Ghossoub

**Fiscal Deficits, Current Account Dynamics and Monetary Policy**

*by*Giorgio Di Giorgio & Salvatore Nisticï¿½

**On the determinants of currency crises: The role of model uncertainty**

*by*Jesus Crespo Cuaresma & Tomas Slacik

**Stock market liquidity and macro-liquidity shocks: Evidence from the 2007-2009 financial crisis**

*by*Chris Florackis & Alexandros Kontonikas & Alexandros Kostakis

**Behavioural Equilibrium Exchange Rate and Total Misalignment: Evidence from the Euro Exchange Rate**

*by*Minoas Koukouritakis & Nikolaos Giannellis

**The Term Structure of Interbank Risk**

*by*Damir FILIPOVIC & Anders B. TROLLE

**International Bond Risk Premia**

*by*Magnus DAHLQUIST & Henrik HASSELTOFT

**The New "Normal" for Interest Rates in Canada: The Implications of Long-Term Shifts in Global Saving and Investment**

*by*Paul Beaudry & Philippe Bergevin

**The New "Normal" for Interest Rates in Canada: The Implications of Long-Term Shifts in Global Saving and Investment**

*by*Paul Beaudry & Philippe Bergevin

**Tasa De Rendimiento De Capital De Colombia Para El Periodo Entre 1990 Y 2001**

*by*Ana María Tribín Uribe

**Una aproximación a la dinámica de las tasas de interés de corto plazo en Colombia a través de modelos GARCH multivariados**

*by*Luis Fernando Melo Velandia & Oscar Reinaldo Becerra Camargo

**Tramo Corto de la Curva de Rendimientos, Cambio de Régimen Inflacionario y Expectativas de Inflación en Colombia**

*by*Luis Eduardo Arango & Luz Adriana Flórez

**Interest Rate Setting and the Colombian Monetary Transmission Mechanism**

*by*Carlos Andrés Amaya

**Expectativas de Actividad Económica en Colombia y Estructura a Plazo: Un Poco más de Evidencia**

*by*Luis Eduardo Arango & Luz Adriana Flórez

**El Tramo Corto de la Estructura a Plazo como Predictor de Expectativas de la Actividad Económica en Colombia**

*by*Luis Eduardo Arango & Luz Adriana Flórez & Angélica María Arosemena

**El Tramo Corto de la Estructura a Plazo como predictor de Expectativas de Inflación en Colombia**

*by*Luis Eduardo Arango & María Angélica Arosemena

**Affine Bond Pricing with a Mixture Distribution for Interest Rate Time-Series DynamicsCreation-Date: 20100225**

*by*Torben B. Rasmussen

**Monetary policy operations: experiences during the crisis and lessons learnt - a comment**

*by*Rafael Repullo

**Implementing monetary policy in the crisis times - the case of the ECB**

*by*Nuno Cassola & Alain Durré & Cornelia Holthausen