## 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.

**Efectos de sorpresas económicas en la estructura de tasas de interés. Evidencia para Brasil, Chile y México**

*by*Ceballos Sanhueza, Luis

**¿Existe evidencia de asimetrías en la gestión de la política monetaria por parte del Banco Central Europeo? (1999-2014)**

*by*Barros-Campello, Esther & Pateiro-Rodríguez, Carlos & Salcines-Cristal, J. Venancio

**Ursachen und Folgen der Niedrigzinsen: Enteignung der Sparer?**

*by*Gunther Schnabl & Georg Fahrenschon & Markus Demary & Judith Niehues & Olaf Stotz & Hans-Peter Burghof

**Equilibrium real interest rates and secular stagnation: An empirical analysis for euro area member countries**

*by*Belke, Ansgar & Klose, Jens

**House prices and interest rates: Bayesian evidence from Germany**

*by*Hanck, Christoph & Prüser, Jan

**Did quantitative easing affect interest rates outside the US? New evidence based on interest tate differentials**

*by*Belke, Ansgar & Gros, Daniel & Osowski, Thomas

**Regional Banking Instability and FOMC Voting**

*by*Eichler, Stefan & Lähner, Tom & Noth, Felix

**Much ado about nothing: Sovereign ratings and government bond yields in the OECD**

*by*El-Shagi, Makram

**Forward guidance and "lower for longer": The case of the ECB**

*by*Bletzinger, Tilman & Wieland, Volker

**Global-Soziale Marktwirtschaft und die Flüchtlingsfrage**

*by*von Weizsäcker, Carl Christian

**Population growth, saving, interest rates and stagnation: Discussing the Eggertsson-Mehrotra model**

*by*Spahn, Peter

**Interest rates, corporate lending and growth in the Euro Area**

*by*Gabriele Tondl

**Unsecured and Secured Funding**

*by*Ranaldo, Angelo & Wrampelmeyer, Jan

**Fragility of Money Markets**

*by*Ranaldo, Angelo & Rupprecht, Matthias & Wrampelmeyer, Jan

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

*by*Alessia Paccagnini

**Persistent Stochastic Shocks in a New Keynesian Model with Uncertainty**

*by*Tobias Kranz

**Interest Rate Rules, Exchange Market Pressure, and Successful Exchange Rate Management**

*by*Franc Klaassen & Kostas Mavromatis

**The Impact of the ECB’s Conventional and Unconventional Monetary Policies on Stock Markets**

*by*Reinder Haitsma & Deren Unalmis & Jakob de Haan

**The Effect of Inflation and Interest Rates on Forward-Looking Effective Tax Rates**

*by*Centre for European Economic Reserach (ZEW)

**Fractionality and co-fractionality between Government Bond yields**

*by*Håvard Hungnes

**Previdência e taxa de juros no Brasil**

*by*Brian Bolarinwa Ogundairo & Mauro Rodrigues

**Capital Inflow Transmission of Monetary Policy to Emerging Markets**

*by*Adugna Olani

**Interest rate pass-through: a nonlinear vector error-correction approach**

*by*Michal Popiel

**The Output Euler Equation and Real Interest Rate Regimes**

*by*Pym Manopimoke

**Daily Movements in the Thai Yield Curve: Fundamental and Non-Fundamental Drivers**

*by*Jakree Koosakul

**Central Bank Communication and Monetary Policy Effectiveness: Evidence from Thailand**

*by*Pongsak Luangaram & Yuthana Sethapramote

**Is Inflation Persistence Different in Reality?**

*by*Nikolaos Antonakakis & Juncal Cunado & Luis A. Gil-Alana & Rangan Gupta

**Influence de la politique monétaire sur le taux long Quelques évidences empiriques, cas du Maroc**

*by*EL FAIZ, Zakaria & ZIANI, Manal

**Recalibrarea sistemului bancar european in contextul noilor cerinte si realitati**

*by*Danila, Marius

**Implicatii ale plasarii dobanzilor in zona negativa**

*by*Danila, Marius

**Yield Curve for Japanese Agency Bonds: From 2002 to the Present**

*by*Hattori, Takahiro & Miyake, Hiroki

**The Strategic Determination of the Supply of Liquid Assets**

*by*Geromichalos, Athanasios & Herrenbrueck, Lucas

**The shadow rate as a predictor of real activity and inflation: Evidence from a data-rich environment**

*by*Hännikäinen, Jari

**Effectiveness of Monetary Policy: Evidence from Turkey**

*by*Avci, S. Burcu & Yucel, Eray

**Inflation is Always and Everywhere an Interest-Rate Phenomenon**

*by*Belanger, Gilles

**When does the yield curve contain predictive power? Evidence from a data-rich environment**

*by*Hännikäinen, Jari

**Public spending, monetary policy and growth: Evidence from EU countries**

*by*Papaioannou, Sotiris

**Did the global financial crisis alter equilibrium adjustment dynamics between the US Fed rates and stock price volatility in the SSA region?**

*by*Phiri, Andrew

**The Japan Municipal Bond Yield Curve: 2002 to the Present**

*by*Hattori, Takahiro & Miyake, Hiroki

**Inflation expectations derived from a portfolio model**

*by*Covarrubias, Enrique & Hernández-del-Valle, Gerardo

**Is there a crowding-out effect in the Moroccan context ? Evidence from structural VAR Analysis**

*by*BOUNADER, Lahcen

**Effect of interest rate on bank deposits: evidences from Islamic and non-Islamic economies**

*by*Mushtaq, Saba & Siddiqui, Danish Ahmed

**Три Варианта Экономической Политики Для России**

*by*BLINOV, Sergey

**The Evasive Predictive Ability of Core Inflation**

*by*Pincheira, Pablo & Selaive, Jorge & Nolazco, Jose Luis

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

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

**Are Supply Shocks Contractionary at the ZLB? Evidence from Utilization-Adjusted TFP Data**

*by*Julio Garín & Robert Lester & Eric Sims

**A Model of the International Monetary System**

*by*Emmanuel Farhi & Matteo Maggiori

**Bernanke's No-arbitrage Argument Revisited: Can Open Market Operations in Real Assets Eliminate the Liquidity Trap?**

*by*Gauti B. Eggertsson & Kevin Proulx

**Understanding the Decline in the Safe Real Interest Rate**

*by*Robert E. Hall

**Bond Risk Premia in Consumption-based Models**

*by*Drew D. Creal & Jing Cynthia Wu

**Raise Rates to Raise Inflation? Neo-Fisherianism in the New Keynesian Model**

*by*Julio Garín & Robert Lester & Eric Sims

**The Term Structure of Interest Rates in India**

*by*Rajnish Mehra & Arunima Sinha

**Japanization: Is it Endemic or Epidemic?**

*by*Takatoshi Ito

**Do long term interest rates drive GDP and inflation in small open economies? Evidence from Poland**

*by*Grzegorz Wesołowski

**Do inflation expectations matter in a stylised New Keynesian model? The case of Poland**

*by*Tomasz Łyziak

**Why may large economies suffer more at the zero lower bound?**

*by*Michał Brzoza-Brzezina

**Interest Rates Rules**

*by*Ceri Davies & Max Gillman & Michal Kejak

**A European Disease? Non-tradable inflation and real interest rate divergence**

*by*Sophie Piton

**A Term Structure of Interest Rates Model with Zero Lower Bound and the European Central Bank's Non-standard Monetary Policy Measures**

*by*Viktors Ajevskis

**The Empirics of Long-Term US Interest Rates**

*by*Tanweer Akram & Huiqing Li

**Japan's Liquidity Trap**

*by*Tanweer Akram

**Regional Banking Instability and FOMC Voting**

*by*Stefan Eichler & T. Lähner & Felix Noth

**Is the supply of long-term debt independent of the term premia? Evidence from Portugal**

*by*António Afonso, & Manish K. Singh

**Revisiting Sovereign Bond Spreads’Determinants in the EMU**

*by*António Afonso, & Manuel Reis

**A Portfolio Model of Quantitative Easing**

*by*Jens H. E. Christensen & Signe Krogstrup

**Non-Linearities in the Relationship between House Prices and Interest Rates: Implications for Monetary Policy**

*by*Guay Lim & Sarantis Tsiaplias

**The interest rate effects of government bond purchases away from the lower bound**

*by*De Rezende, Rafael B.

**Fed Liftoff and Subprime Loan Interest Rates: Evidence from the Peer-to-Peer Lending Market**

*by*Bertsch, Christoph & Hull, Isaiah & Zhang, Xin

**Pure Theory of the Federal Funds Rate**

*by*Homburg, Stefan

**An Empirical Assessment of Global Capital Productivity**

*by*Knolle, Julia & Lehmann, Kai

**Political Economics of Fiscal Consolidations and External Sovereign Accidents**

*by*Carolina Achury & Christos Koulovatianos & John Tsoukalas

**Japan's Currency Intervention Regimes: A Microstructural Analysis with Speculation and Sentiment**

*by*Ronald McDonald & Xuxin Mao

**Government Wealth Funds and Monetary Policy**

*by*Sergey Sinelnikov-Murylev & Pavel Trunin

**Russia’s Monetary Policy in 2015**

*by*Bozhechkova Alexandra & Trunin Pavel & Kiyutsevskaya Anna

**The impact of unconventional monetary policy on the sovereign bank nexus within and across EU countries. A time-varying conditional correlation analysis**

*by*Giulio Cifarelli & Giovanna Paladino

**Term structures of inflation expectations and real interest rates**

*by*Aruoba, S. Boragan

**How to escape a liquidity trap with interest rate rules**

*by*Duarte, Fernando M.

**Measuring Interest Rate Risk in the Life Insurance Sector: The U.S. and the U.K**

*by*Hartley, Daniel & Paulson, Anna L. & Rosen, Richard J.

**The Effect of Monetary Policy on Housing Tenure Choice as an Explanation for the Price Puzzle**

*by*Dias, Daniel A. & Duarte, Joao B.

**Changes in Prudential Policy Instruments ---- A New Cross-Country Database**

*by*Cerutti, Eugenio & Correa, Ricardo & Fiorentino, Elisabetta & Segalla, Esther

**Financial Stability and Optimal Interest-Rate Policy**

*by*Ajello, Andrea & Laubach, Thomas & Lopez-Salido, J. David & Nakata, Taisuke

**Funding Liquidity Risk and the Cross-section of MBS Returns**

*by*Kitsul, Yuriy & Ochoa, Marcelo

**A Time Series Model of Interest Rates With the Effective Lower Bound**

*by*Johannsen, Benjamin K. & Mertens, Elmar

**Real and Nominal Equilibrium Yield Curves: Wage Rigidities and Permanent Shocks**

*by*Hsu, Alex & Li, Erica X. N. & Palomino, Francisco J.

**A Portfolio Model of Quantitative Easing**

*by*Christensen, Jens H. E. & Krogstrup, Signe

**Measuring the natural rate of interest: International trends and determinants**

*by*Holston, Kathryn & Laubach, Thomas & Williams, John C.

**Measuring the effect of the zero lower bound on monetary policy**

*by*Carvalho, Carlos & Hsu, Eric & Nechio, Fernanda

**Are nonlinear methods necessary at the zero lower bound?**

*by*Richter, Alexander & Throckmorton, Nathaniel

**Forecasts of inflation and interest rates in no-arbitrage affine models**

*by*Gospodinov, Nikolay & Wei, Bin

**Affine term structure pricing with bond supply as factors**

*by*Hayashi, Fumio

**A Note on Simple Monetary Policy Rules with Labour Market and Financial Frictions**

*by*Sarunas Girdenas

**Sovereign Debt Issuance and Selective Default**

*by*Paczos, Wojtek; Shakhnov, Kirill

**University differences in the graduation minorities in STEM fields: evidence from California**

*by*Peter Arcidiacono & Esteban M. Aucejo & V. Joseph Hotz

**Covered interest parity: evidence from Russian money market**

*by*Kuga Iakov & Elena Kuzmina

**Financial factors and monetary policy: Determinacy and learnability of equilibrium**

*by*Paul Kitney

**Ambiguity and Time-Varying Risk Aversion in Sovereign Debt Markets**

*by*Christoph Große Steffen & Maximilian Podstawski

**Optimal Debt Management in a Liquidity Trap**

*by*Hafedh BOUAKEZ & Rigas OIKONOMOU & Romanos PRIFTIS

**Expectations, Stagnation and Fiscal Policy**

*by*Evans, George W. & Honkapohja, Seppo & Mitra, Kaushik

**A Demand Theory of the Price Level**

*by*Hagedorn, Marcus

**Finding the Equilibrium Real Interest Rate in a Fog of Policy Deviations**

*by*Taylor, John B. & Wieland, Volker

**Bank Leverage and Monetary Policy's Risk-Taking Channel: Evidence from the United States**

*by*DellAriccia, Giovanni & Laeven, Luc & Suarez, Gustavo

**Union Debt Management**

*by*Equiza-Goni, Juan & Faraglia, Elisa & Oikonomou, Rigas

**Forward guidance and "lower for longer": The case of the ECB**

*by*Bletzinger, Tilman & Wieland, Volker

**Stagnation Traps**

*by*Benigno, Gianluca & Fornaro, Luca

**International Transmissions of Monetary Shocks**

*by*Han, Xuehui & Wei, Shang-Jin

**Efectos de los cambios de la tasa de interés de Estados Unidos sobre Colombia, Perú y Chile**

*by*Carlos Fernando Daza Moreno & Jorge Mario Uribe

**Monetary Transmission: Are Emerging Market and Low-Income Countries Different?**

*by*Ales Bulir & Jan Vlcek

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

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

**A European Disease? Non-tradable inflation and real interest rate divergence**

*by*Sophie Piton

**Monetary Policy Transmission in an Open Economy: New Data and Evidence from the United Kingdom**

*by*Ambrogio Cesa-Bianchi & Gregory Thwaites & Alejandro Vicondoa

**Cash Flow Duration and the Term Structure of Equity Returns**

*by*Michael Weber

**Quantitative Easing: The Challenge for Households Long-term Savings and Financial Security**

*by*Christian Thimann

**Secular Stagnation: Insights from a New Keynesian Model with Hysteresis Effects**

*by*Bas van Aarle

**Stagnation Traps**

*by*Gianluca Benigno & Luca Fornaro

**The Strategic Determination of the Supply of Liquid Assets**

*by*Athanasios Geromichalos & Lucas Herrenbrueck

**Expectations, stagnation and fiscal policy**

*by*Evans, George W. & Honkapohja, Seppo & Mitra, Kaushik

**A shadow rate model with time-varying lower bound of interest rates**

*by*Kortela, Tomi

**A monetary policy rule for Russia, or is it rules?**

*by*Korhonen, Iikka & Nuutilainen, Riikka

**Risk premia and seasonality in commodity futures**

*by*Hevia, Constantino & Petrella, Ivan & Sola, Martin

**Pass-through of bank funding costs to lending and deposit rates: lessons from the financial crisis**

*by*Harimohan, Rashmi & McLeay, Michael & Young, Garry

**Monetary policy and volatility in the sterling money market**

*by*Osborne, Matthew

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

*by*Dongho Song

**Targeting Constant Money Growth at the Zero Lower Bound**

*by*Michael T. Belongia & Peter N. Ireland

**Liquidity Management and Central Bank Strength: Bank of England Operations Reloaded, 1889-1910**

*by*Stefano Ugolini

**UK term structure decompositions at the zero lower bound**

*by*A. Carriero & S. Mouabbi & E. Vangelista

**Measuring Financial Fragmentation in the Euro Area Corporate Bond Market**

*by*G. Horny & M. Manganelli & B. Mojon

**Macroeconomic effectiveness of non-standard monetary policy and early exit. A model-based evaluation**

*by*Lorenzo Burlon & Andrea Gerali & Alessandro Notarpietro & Massimiliano Pisani

**Structural transformation, services deepening, and the transmission of monetary policy**

*by*Alessandro Galesi & Omar Rachedi

**Modelling interest payments for macroeconomic assessment**

*by*Celestino Girón & Marta Morano & Enrique M. Quilis & Daniel Santabárbara & Carlos Torregrosa

**The Global Financial Cycle, Monetary Policies and Macroprudential Regulations in Small, Open Economies**

*by*Gregory Bauer & Gurnain Pasricha & Rodrigo Sekkel & Yaz Terajima

**Starting from a Blank Page? Semantic Similarity in Central Bank Communication and Market Volatility**

*by*Michael Ehrmann & Jonathan Talmi

**Global Macro Risks in Currency Excess Returns**

*by*Kimberly Berg & Nelson C. Mark

**Liquidity Trap and Stability of Taylor Rules**

*by*Antoine Le Riche & Francesco Magris & Antoine Parent

**Does the central bank directly respond to output and inflation uncertainties in Turkey?**

*by*Pelin Oge Guney

**A general HJM framework for multiple yield curve modelling**

*by*Christa Cuchiero & Claudio Fontana & Alessandro Gnoatto

**Forecasting the Yield Curve With Macroeconomic Variables**

*by*Michał Rubaszek

**Are We Systematically Wrong when Estimating Potential Output and the Natural Rate of Interest?**

*by*Lucian Croitoru

**An Axiomatic Analysis of the Effects of Interest Rate on the Inflation and Convergence Speed in Achiving to Equilibrium in a Banach Space**

*by*Askari, Seyed Ehsan & Pourkazemi, Mohammad Hossein & Biabani, Jahangir & Dallali Isfahani, Rahim

**Bank Failure Prediction Model for Zimbabwe**

*by*Victor Gumbo & Simba Zoromedza

**Udržitelnost dluhového financování státu a její interakce s kvantitativním uvolňováním: případ USA, UK a Japonska v letech 2000-2014**

*by*Jiří Štekláč & Miroslav Titze

**Může být přirozená úroková míra nulová? Neoklasický přístup**

*by*Pavel Potužák

**Fisher and Mises on Zero Interest: A Reconsideration**

*by*Pavel Potužák

**The influence of sovereign bond yields on bank lending rates: the pass-through in Europe**

*by*Markus Eller & Thomas Reininger

**A monetary policy rule for Russia, or is it rules?**

*by*Iikka Korhonen & Riikka Nuutilainen

**Negative Nominal Interest Rates on Loans: The Newly-Established Normal Practice?**

*by*Petar Peshev & Ivaylo Beev

**Real Returns, Interest Income Tax, and Household Saving in Bulgaria**

*by*Dimitar Damyanov

**Keynes' Theory of the Interest Rate: A Critical Approach**

*by*Katarzyna Appelt

**Unconventional Monetary Policy in the Euro Zone**

*by*John Driffill

**Testing the Persistence of the Forward Premium: Structural Changes or Misspecification?**

*by*Tsung-Wu Ho & Wan-Shin Mo

**Does Central Bank Capital Matter for Monetary Policy?**

*by*Gustavo Adler & Pedro Castro & Camilo E. Tovar

**A plausible model of yield curve dynamics**

*by*Gideon Magnus

**Shadow short rate and monetary policy in the Euro area**

*by*Milan Damjanović & Igor Masten

**The perils of debt deflation in the Euro area: a multi regime model**

*by*Willi Semmler & Alexander Haider

**POLONIA dynamics during the years 2006–2012 and the effectiveness of the monetary Policy of the National Bank of Poland**

*by*Agata Kliber & Paweł Kliber & Piotr Płuciennik & Małgorzata Piwnicka

**Expectations Hypothesis and Term Structure of Interest Rates: An Evidence from Emerging Market**

*by*Hassan Shareef & Santhakumar Shijin

**Money-Market Rates and Retail Interest Regulation in China: The Disconnect between Interbank and Retail Credit Conditions**

*by*Nathan Porter & TengTeng Xu

**Post-Brexit Britain: Its Relations With The Eu And Its Future In The Framework Of Multilateral Institutions**

*by*Larionova M. & Sakharov A. & Shelepov A.

**Brexit Results: Macroeconomic Risks**

*by*Trunin Pavel & Goryunov Evgeny & Kiyutsevskaya Anna

**Online Monitoring of Russia's Economic Outlook**

*by*Drobyshevsky Sergey & Turuntseva Marina & Bozhechkova Alexandra & Trunin Pavel & Knobel Alexander & Firanchuk Alexander & Khromov Mikhail & Averkiev Vladimir & Shishkina Ekaterina & Uzun Vasily & Florinskaya Yulia & Mkrtchian N. & Shagaida Natalia

**Online Monitoring of Russia's Economic Outlook**

*by*Alexandra Bozhechkova & Alexander Knobel & Sergey Tsukhlo & Elena Grishina & Pavel Trunin & Alexander Firanchuk & Olga Berezinskaya

**Online Monitoring of Russia's Economic Outlook**

*by*Drobyshevsky Sergey & Turuntseva Marina & Bozhechkova Alexandra & Trunin Pavel & Knobel Alexander & Firanchuk Alexander & Averkiev Vladimir & Shishkina Ekaterina & Florinskaya Yulia & Mkrtchian N. & Shagaida Natalia

**Monetary Policy at the Zero Lower Bound: Revelations from the FOMC's Summary of Economic Projections**

*by*Kahn, George A. & Palmer, Andrew

**Applications of an IS-MP Model with Yield Curve**

*by*X. Henry Wang & Bill Z. Yang

**The international transmission of risk: Causal relations among developed and emerging countries’ term premia**

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

**Bank loan terms and conditions: Is there a macro effect?**

*by*Anagnostopoulou, Seraina C. & Drakos, Konstantinos

**A macro-finance term structure model with multivariate stochastic volatility**

*by*Laurini, Márcio P. & Caldeira, João F.

**Inflation forecasts extracted from nominal and real yield curves**

*by*Geyer, Alois & Hanke, Michael & Weissensteiner, Alex

**Determinants of the onshore and offshore Chinese government yield curves**

*by*Löchel, H. & Packham, N. & Walisch, F.

**Macroeconomic news and the real interest rates at the zero lower bound**

*by*Zhang, Ji

**The impact of the ECB's conventional and unconventional monetary policies on stock markets**

*by*Haitsma, Reinder & Unalmis, Deren & de Haan, Jakob

**Sovereign debt spread and default in a model with self-fulfilling prophecies and asymmetric information**

*by*Blot, Christophe & Ducoudré, Bruno & Timbeau, Xavier

**Monetary policy uncertainty and investor expectations**

*by*Sinha, Arunima

**A wedge in the dual mandate: Monetary policy and long-term unemployment**

*by*Rudebusch, Glenn D. & Williams, John C.

**The effectiveness of the ECB's asset purchase programs of 2009 to 2012**

*by*Gibson, Heather D. & Hall, Stephen G. & Tavlas, George S.

**Japanese repo and call markets before, during, and emerging from the financial crisis**

*by*Fukunaga, Ichiro & Kato, Naoya

**Can credit spreads help predict a yield curve?**

*by*Abdymomunov, Azamat & Kang, Kyu Ho & Kim, Ki Jeong

**Monetary policy regimes and the forward bias for foreign exchange**

*by*Lafuente, Juan A. & Pérez, Rafaela & Ruiz, Jesús

**Credit and liquidity in interbank rates: A quadratic approach**

*by*Dubecq, Simon & Monfort, Alain & Renne, Jean-Paul & Roussellet, Guillaume

**Evaluating the robustness of UK term structure decompositions using linear regression methods**

*by*Malik, Sheheryar & Meldrum, Andrew

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

*by*Hollander, Hylton & Liu, Guangling

**The informational content of the embedded deflation option in TIPS**

*by*Grishchenko, Olesya V. & Vanden, Joel M. & Zhang, Jianing

**Evidence on the functional form of inflation and output growth variability relationship in European economies**

*by*Khan, Muhammad

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

*by*Baum, Christopher F. & Schäfer, Dorothea & Stephan, Andreas

**Interest parity, cointegration, and the term structure: Testing in an integrated framework**

*by*Georgoutsos, Dimitris A. & Kouretas, Georgios P.

**Ownership, interest rates and bank risk-taking in Central and Eastern European countries**

*by*Drakos, Anastassios A. & Kouretas, Georgios P. & Tsoumas, Chris

**Overnight interbank markets and the determination of the interbank rate: A selective survey**

*by*Green, Christopher & Bai, Ye & Murinde, Victor & Ngoka, Kethi & Maana, Isaya & Tiriongo, Samuel

**Stochastic correlation and risk premia in term structure models**

*by*Chiarella, Carl & Hsiao, Chih-Ying & Tô, Thuy-Duong

**The economic value of predicting bond risk premia**

*by*Sarno, Lucio & Schneider, Paul & Wagner, Christian

**Bond portfolio optimization using dynamic factor models**

*by*Caldeira, João F. & Moura, Guilherme V. & Santos, André A.P.

**Investigating United Kingdom's monetary policy with Macro-Factor Augmented Dynamic Nelson–Siegel models**

*by*Levant, Jared & Ma, Jun

**Risk and return of short-duration equity investments**

*by*Cejnek, Georg & Randl, Otto

**Linkages in the term structure of interest rates across sovereign bond markets**

*by*Sowmya, Subramaniam & Prasanna, Krishna & Bhaduri, Saumitra

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

*by*Engler, Philipp & Große Steffen, Christoph

**Retail bank interest rate pass-through in the euro area: An empirical survey**

*by*Andries, Natalia & Billon, Steve

**Around the world with Irving Fisher**

*by*Gylfason, Thorvaldur & Tómasson, Helgi & Zoega, Gylfi

**The Responsiveness of Hong Kong Private Residential Housing Prices**

*by*Kwok-Chiu Lam

**Evidence on the functional form of inflation and output growth variability relationship in European economies**

*by*Muhammad Khan

**La faiblesse des taux d’intérêt à long terme : un phénomène mondial**

*by*Jhuvesh Sobrun & Philip Turner

**Les activités de shadow banking dans un contexte de bas taux d’intérêt : une perspective de flux financiers**

*by*Günter W. Beck & Hans-Helmut Kotz

**Comment gérer l’épargne en régime de taux très bas ?**

*by*Jean-François Boulier

**L’assouplissement quantitatif : un défi pour l’épargne à long terme et la sécurité financière des ménages**

*by*Christian Thimann

**Taux négatif : arme de poing ou signal de détresse ?**

*by*Jézabel Couppey-Soubeyran

**Trois changements « sismiques » dans l’économie mondiale et leurs enjeux de politique économique**

*by*Kiyohiko G. Nishimura

**La politique macroprudentielle : un ouvrage en cours pour les banques centrales**

*by*Jaime Caruana & Ilhyock Shim

**Les mesures de politique monétaire non conventionnelles et leur impact sur les marchés**

*by*Marco Leppin & Joachim Nagel

**La politique monétaire en période d’incertitudes**

*by*John Hutchinson & Peter Praet

**Les taux d’intérêt en France : une perspective historique**

*by*Vivien Levy-Garboua & Eric Monnet

**Réflexions sur la borne zéro des taux d’intérêt en liaison avec la stabilité monétaire et financière**

*by*Christian Noyer

**The Informational Content of Trades on Foreign Exchange Futures: an Application to the Brazilian Market**

*by*Vanessa Neumann Sulzbach & João Mergulhão & Pedro L. Valls Pereira

**Crédits à l’habitat : taux d’intérêt, durée des crédits et profil des emprunteurs**

*by*BURDEAU, E. & POTIER, L.

**Stock Market Volatility: Does Our Fundamentals Matter?**

*by*Babajide Abiola Ayopo & Lawal Adedoyin Isola & Somoye Russel Olukayode

**Sovereign Default Risk and Uncertainty Premia**

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**Forecasting interest rate swap spreads using domestic and international risk factors: Evidence from linear and non-linear models**

*by*Costas Milas & Ilias Lekkos & Theodore Panagiotidis

**Crowding-out and Crowding-in Effects of Government Bonds Market on Private Sector Investment (Japanese Case Study)**

*by*Abdullatif Alani, Emad M.A.

**Modeling The Euro Overnight Rate**

*by*Ángel León & Francis Benito & Juan Nave

**Term structure of interest rate. european financial integration**

*by*Hortènsia Fontanals & Elisabet Ruiz & Catalina Bolancé

**Indexed Bonds and Revisions of Inflation Expectations**

*by*Reschreiter, Andreas

**Financial Structure and its Impact on the Convergence of Interest Rate Pass-through in Europe. A Time-varying Interest Rate Pass-through Model**

*by*Schwarzbauer, Wolfgang

**Structural Econometric Approach to Bidding in the Main refinancing Operations of the Eurosystem**

*by*Nuno Cassola & Christian Ewerhart & Claudio Morana

**British Interest Rate Convergence between the US and Europe: A Recursive Cointegration Analysis**

*by*Enzo Weber

**Time Series Analysis of the Expectations Hypothesis for the Japanese Term Structure of Interest Rates in the Presence of Multiple Structural Breaks**

*by*Sugita, Katsuhiro

**Can a time-varying equilibrium real interest rate explain the excess sensitivity puzzle?**

*by*Alexius, Annika & Welz, Peter

**Measuring Expectations**

*by*Kjellberg, David

**Chartist Trading in Exchange Rate Theory**

*by*Selander, Carina

**Does the Yield Spread Predict the Output Gap in the U.S.?**

*by*Zagaglia, Paolo

**The Predictive Power of the Yield Spread under the Veil of Time**

*by*Zagaglia, Paolo

**Life-Cycle Housing and Portfolio Choice with Bond Markets**

*by*van Hemert, Otto

**A Re-examination of the link between Real Exchange Rates and Real Interest Rate Differentials**

*by*Mathias Hoffmann & Ronald MacDonald

**Learning About the Term Structure and Optimal Rules for Inflation Targeting**

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

**On Simple Conditions for Mixed Equilibria in Dualistic Models. Part II: Degree of Coverage**

*by*Ana Paula Martins

**On Simple Conditions for Mixed Equilibria in Dualistic Models. Part I: Degree of Mobility**

*by*Ana Paula Martins

**A Two-Stage Realized Volatility Approach to Estimation of Diffusion Processes with Discrete**

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

**Fool the markets? Creative accounting, fiscal transparency and sovereign risk premia**

*by*Kerstin Bernoth & Guntram Wolff

**Uncovering Yield Parity: A new insight into the UIP puzzle through the stationarity of long maturity forward rates**

*by*Zsolt Darvas & Gábor Rappai & Zoltán Schepp

**Monetary Policy, the Bond Market, and Changes in FOMC Communication Policy**

*by*Troy Davig & Jeffrey R. Gerlach

**Money and Production, and Liquidity Trap**

*by*Pradeep Dubey & John Geanakoplos

**The Term Structure of Interest Rates in the European Union**

*by*Minoas Koukouritakis & Leo Michelis

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

*by*Bekaert, Geert & Cho, Seonghoon & Moreno Ibáñez, Antonio

**Learning About the Term Structure and Optimal Rules for Inflation Targeting**

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

**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

**Tasa De Rendimiento De Capital De Colombia Para El Período Entre 1990-2001**

*by*Ana María Tribín Uribe

**La Tasa de Interés Natural en Colombia**

*by*Juan José Echavarría & Enrique López Enciso & Martha Misas Arango & Juana Tellez Corredor

**Interest Rate Pass-Through In Colombia: A Micro- Banking Perspective**

*by*Rocío Betancourt & Hernando Vargas & Norberto Rodríguez Niño

**Efectos de los cambios en la tasa de intervención del Banco de la República sobre la estructura a plazo**

*by*Luis Eduardo Arango & Andrés González & Jhon Jairo León & Luis Fernando Melo

**Taux d’intérêt et marchés boursiers : une analyse empirique de l’intégration financière internationale**

*by*vladimir Borgy & Valérie Mignon

**The Role of the IMF in Well-Performing Low-Income Countries**

*by*Steve Radelet

**Does Money Matter in the ECB Strategy? New Evidence Based on ECB Communication**

*by*Helge Berger & Jan-Egbert Sturm

**Foreign Exchange Risk Premium Determinants: Case of Armenia**

*by*Tigran Poghosyan & Evzen Kocenda

**Monetary policy before and after the euro: Evidence from Greece**

*by*Arghyrou, Michael G

**Interest Rate Clustering in UK Financial Services Markets**

*by*John K. Ashton & Robert Hudson

**Macroeconomic Models and the Yield Curve: An assessment of the Fit**

*by*Chadha, J.S. & Holly, S.

**Monetary Policy and the Yield Curve at Zero Interest: The Macro-Finance Model of Interest Rates as Options**

*by*Hibiki Ichiue & Yoichi Ueno

**The Use of the Black Model of Interest Rates as Options for Monitoring the JGB Market Expectations**

*by*Yoichi Ueno & Naohiko Baba & Yuji Sakurai

**Effects of the Quantitative Easing Policy: A Survey of Empirical Analyses**

*by*Hiroshi Ugai

**Monetary Policy Rules under Heterogeneous Inflation Expectations**

*by*Sophocles N. Brissimis & Nicholas S. Magginas

**Monetary policy and rejections of the expectations hypothesis**

*by*Ravenna, Federico & Seppälä, Juha

**Money market volatility : a simulation study**

*by*Kempa, Michal

**Term Structure Anomalies: Term Premium or Peso problem?**

*by*JARDET, C.

**An empirical analysis of national differences in the retail bank interest rates of the euro area**

*by*Massimiliano Affinito & Fabio Farabullini

**House prices and real interest rates in Spain**

*by*Juan Ayuso & Roberto Blanco & Fernando Restoy

**Can Affine Term Structure Models Help Us Predict Exchange Rates?**

*by*Antonio Diez de los Rios

**A comparative Long-memory Analysis between Spanish, Mexican and U.S. interest rates**

*by*Fernando Espinosa Navarro & Klender Cortez & Roman Jordi Adillon Boladeres

**Forecasting US bond yields at weekly frequency**

*by*Riccardo LUCCHETTI & Giulio PALOMBA

**An interpretation of an affine term structure model of Chile**

*by*J.Marcelo Ochoa

**Spot and foward market intervention during the 1997 Korean currency crisis**

*by*Woosik Moon & Yeongseop Rhee

**Spot and foward market intervention during the 1997 Korean currency crisis**

*by*Woosik Moon & Yeongseop Rhee

**An Investigation of the German Dominance Hypothesis in the Context of Eastern Enlargement of the EU**

*by*Mete Feridun

**Budget Deficit and Interest Rates**

*by*Zdeněk Dvorný

**Glenn Rudebusch’s View on the Targeting of Short-Term Interest Rates**

*by*Karel Brůna

**Globalisation and monetary policy**

*by*J. Boeckx

**Whom should we believe? Information content of the yield curve and analysts’ expectations**

*by*Péter Gábriel & Klára Pintér

**A devizakötvény-felárak és a hitelminősítések összefüggése - keresztmetszeti elemzés. A cross-section analysis**

*by*Kocsis, Zalán & Mosolygó, Zsuzsa

**EMU and the transmission of monetary policy: evidence from business lending rates**

*by*Boris Hofmann

**The Interest Rate Pass-Through in German Banking Groups**

*by*Hiltrud Nehls

**The Bond Yield "Conundrum" from a Macro-Finance Perspective**

*by*Glenn D. Rudebusch & Eric T. Swanson & Tao Wu

**Financial Market Functioning and Monetary Policy: Japan fs Experience**

*by*Naohiko Baba

**The Bank of Japan's Monetary Policy and Bank Risk Premiums in the Money Market**

*by*Naohiko Baba & Motoharu Nakashima & Yosuke Shigemi & Kazuo Ueda

**Time-Varying Risk Premia in the Single European Treasury Bill Market**

*by*Nikolaos Mylonidis

**On The Fisher Effect And Inflation Dynamics In Low-Income Countries: An Assessment Of Sub-Saharan Africa Economies**

*by*NANDWA, Boaz

**The Role of Global Risk Aversion in Explaining Sovereign Spreads**

*by*Alicia Garcia-Herrero & Alvaro Ortiz

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

*by*Carlos Andrés Amaya

**Règle de Taylor vs Règle-icm. Application à la zone euro**

*by*Grégory Levieuge

**Libéralisation de la rémunération des dépôts à vue en France : premier bilan**

*by*FONTENY, E. & KIERZENKOWSKI, R. & LASCAR, J.

**Modélisation et analyse des mécanismes du Club de Paris de rachat de créances par prépaiement**

*by*DANIEL, L. & MANAS, A.

**Analyse des taux de soumission aux appels d’offres de l’Eurosystème**

*by*LECINQ, F.

**How the Bundesbank really conducted monetary policy**

*by*Christina Gerberding & Franz Seitz & Andreas Worms

**Bond Yield Predictability and Estimation of Affine Term Structure Models**

*by*Bovorn Vichiansin

**Using a Nonlinear Filter to Estimate a Multifactor Term Structure Model with Gaussian Mixture Innovations**

*by*Wolfgang Lemke

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

*by*Refet GÃ¼rkaynak & Brian Sack

**Central bank power is a matter of faith**

*by*Bengtsson, Ingemar

**A Note on Deficit, Implicit Debt, and Interest Rates**

*by*Zijun Wang

**The Elasticity of Substitution across Maturities in International Capital Markets: A Simple Test**

*by*Drakos, Konstantinos

**Dibs Faiz Oranlarında Oynaklığın Koşulu Değişen Varyans Modeli İle Tahmini Ve Öngörülmesi**

*by*Kıvılcım M. ÖZCAN & Suat AYDIN

**Does it Pay to Watch Central Bankers' Lips? The Information Content of ECB Wording**

*by*Heinemann, Friedrich & Ullrich, Katrin

**The Changing Role of the Yen/Dollar Exchange Rate for Japanese Monetary Policy**

*by*Schnabl, Gunther & Danne, Christian

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

*by*Blaskowitz, Oliver J. & Herwartz, Helmut & de Cadenas Santiago, Gonzalo

**Liquidity Preference Theory Revisited—To Ditch or to Build on It?**

*by*Joerg Bibow

**Modeling Interest Rate Transmission Dynamics In Greece. Is There Any Structural Break After Emu?**

*by*DIONYSIOS CHIONIS & COSTAS LEON

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

*by*Andrea Monticini & Giacomo Vaciago

**Interest Rate Rules and the Response to the Output Gap**

*by*Juan Paez-Farrell

**The CNB’s Policy Decisions – Are They Priced in by the Markets?**

*by*David Navrátil & Viktor Kotlán

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

*by*ALICIA GARCIA HERRERO & ALVARO ORTIZ

**The Changing Role of the Yen/Dollar Exchange Rate for Japanese Monetary Policy**

*by*Gunther Schnabl & Christian Danne

**Expectations, Bond Yields and Monetary Policy**

*by*Albert Lee Chun

**Libor Market Model and Gaussian HJM explicit approaches to option on composition**

*by*Marc Henrard

**Convexity adjustment and delivery option in Australian dollar 90 Day Bills Futures**

*by*Marc Henrard

**Modelling International Bond Markets with Affine Term Structure Models**

*by*Georg Mosburger & Paul Schneider

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

*by*Karlo Kauko

**The intraday price of money: evidence from the e-MID market**

*by*Angelo Baglioni & Andrea Monticini

**Bermudan swaptions in Hull-White one-factor model: analytical and numerical approaches**

*by*Marc Henrard

**Bond Yield Compression in the Countries Converging to the Euro**

*by*Lucjan T. Orlowski & Kirsten Lommatzsch &

**A New Framework for Yield Curve, Output and Inflation Relationships**

*by*Leo Krippner

**A New Framework for Yield Curve, Output and Inflation Relationships**

*by*Leo Krippner

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

*by*Leo Krippner

**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 Multifactor Nature of the Volatility of the Eurodollar Futures Market**

*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

**Interest Rate Pass-through in Sri Lanka**

*by*Amarasekara, Chandranath

**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

**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

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

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

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

*by*Kauko, Karlo

**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

**Mechanismus stabilizace ultrakrátkých úrokových sazeb prostřednictvím repo operací České národní banky**

*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

**National Money of Account, with a Second National Money or Local Monies as Means of Payment: A Way of Finessing the Zero Interest Rate Bound**

*by*Stephen J. DAVIES

**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

**Sovereign risk premia in the European government bond market**

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

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**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

**Paridad entre la tasa de interés real interna y externa: Notas sobre el caso colombiano**

*by*Patricia Correa

**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

**Macroeconomía del sistema bancario: Un modelo aplicado a Colombia**

*by*Eduardo Lora Torres

**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

**Análisis del mercado de eurodólares: origen, desarrollo y consecuencias**

*by*Luis Rául Seyffert

**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

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

*by*Jens Weidmann

**A search-theoretic model of the term premium**

*by*Geromichalos, Athanasios & Herrenbrueck, Lucas M. & Salyer, Kevin D.

**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

**Are Low Interest Rates Deflationary? A Paradox of Perfect- Foresight Analysis**

*by*Mariana GarcÄ±a-Schmidt & Michael Woodford

**Analyzing the Taylor Rule with Wavelet Lenses**

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

**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

**Inflation Co-movement across Countries in Multi-maturity Term Structure: An Arbitrage-Free Approach**

*by*Shi Chen & Wolfgang Karl Härdle & Weining Wang &

**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

**Exact Smooth Term Structure Estimation**

*by*Damir FilipoviÄ‡ & Sander Willems

**Consistent Re-Calibration in Yield Curve Modeling: An Example**

*by*Mario V. Wuthrich

**Optimal Long-Term Allocation with Pension Fund Liabilities**

*by*Eric JONDEAU & Michael ROCKINGER

**Linear-Rational Term Structure Models**

*by*Damir FILIPOVIC & Martin LARSSON & Anders TROLLE

**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

**Euro Dominance Hypothesis and Monetary Policy Independence - the Czech Perspective**

*by*Łukasz Goczek & Dagmara Mycielska