## 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.

**John Bull Can't Stand 2 Percent: QE's Depressing Implications for Investment**

*by*THOMAS, JASON

**The interest rate pass-through in the low interest rate environment: Evidence from Germany**

*by*Hennecke, Peter

**Zinstransmission in der Niedrigzinsphase: Eine empirische Untersuchung des Zinskanals in Deutschland**

*by*Hennecke, Peter

**The premium of government debt: Disentangling safety and liquidity**

*by*Xiong, Qizhou

**Rationalizing the Bias in Central Banks' Interest Rate Projections**

*by*Michael Frenkel & Jin-Kyu Jung & Jan-Christoph Rülke

**Interest Rate Volatility And Macroeconomic Dynamics: A Cross-Country Analysis**

*by*Michael Curran & Adnan Velic

**Who is John Galt? Un análisis de la crisis financiera de 2008 desde la óptica de la Escuela Austríaca**

*by*Diego Rijos

**Endogenous Real Risk-Free Rate, the Central Bank, and Stock Market**

*by*Ilomaki Jukka & Laurila Hannu

**Lower bound beliefs and long-term interest rates**

*by*Christian Grisse & Signe Krogstrup & Silvio Schumacher

**Financial Structure and Instability in an Open Economy**

*by*Kenshiro Ninomiya

**Irrationality and Term Structure Anomaly**

*by*I Doun Kuo

**Unconventional monetary policy: interest rates and low inflation. A review of literature and methods**

*by*Mariarosaria Comunale & Jonas Striaukas

**Temptation and Forward Guidance**

*by*Airaudo, Marco

**Economic Fundamentals and Spill-over among Asian Term Structures**

*by*Wachirawat Banchuen

**Asymmetries in Yield Curves: Some Empirical Evidence from Ghana**

*by*Njindan Iyke, Bernard

**Privately issued money reduces GDP**

*by*Musgrave, Ralph S.

**Effets sectoriels de la politique monétaire et activité économique: cas du Maroc**

*by*Moussir, Charaf Eddine

**Impact of the Degree of Relative Risk Aversion, the Interest Rate and the Exchange Rate Depreciation on Economic Welfare in a Small Open Economy**

*by*Soriano-Morales, Yazmín Viridiana & Vallejo-Jiménez, Benjamín & Venegas-Martínez, Francisco

**Forward-looking Component in Consumers’ Expectations and the Central Bank’s Forecast: Some Evidence for European Countries**

*by*Magdalena Szyszko & Aleksandra Rutkowska

**Theory and Practice of Crisis in Political Economy: the Case of the Great Recession in Spain**

*by*Juan Pablo Mateo

**Dynamic term structure models with score-driven time-varying parameters: estimation and forecasting**

*by*Siem Koopman & André Lucas & Marcin Zamojski

**Is bank lending corruption self-regulatory? A note**

*by*Erotokritos Varelas

**Quantitative Easing in the Euro Area**

*by*Urbschat, Florian & Watzka, Sebastian

**The Dynamics of Government Bond Yields in the Eurozone**

*by*Tanweer Akram & Anupam Das

**The Long-run Determinants of Indian Government Bond Yields**

*by*Tanweer Akram & Anupam Das

**Search-for-Yield and Business Cycle**

*by*Katsuhiro Oshima

**Negative interest rates, excess liquidity and bank business models: Banks’ reaction to unconventional monetary policy in the euro area**

*by*S. Demiralp & J. Eisenschmidt & T. Vlassopoulos

**Sovereign yield spreads in the EMU: crisis and structural determinants**

*by*António Afonso & Frederico Silva Leal

**Stock-Flow Adjustments and Interest Rates**

*by*António Afonso & José Alves

**Term Structure Models with Negative Interest Rates**

*by*Yoichi Ueno

**The Cost Channel Effect of Monetary Transmission: How Effective is the ECB's Low Interest Rate Policy for Increasing Inflation?**

*by*Schäfer, Dorothea & Stephan, Andreas & Trung Hoang, Khanh

**Das Rätsel der Niedrigzinsphase**

*by*Homburg, Stefan & Knolle, Julia

**The Effect of Foreign and Domestic Demand on U.S. Treasury Yields**

*by*Florian Brugger

**Safety, liquidity, and the natural rate of interest**

*by*Del Negro, Marco & Giannone, Domenico & Giannoni, Marc & Tambalotti, Andrea

**Interest rate conundrums in the twenty-first century**

*by*Hanson, Samuel & Lucca, David O. & Wright, Jonathan H.

**"Low-For-Long" Interest Rates and Banks' Interest Margins and Profitability : Cross-Country Evidence**

*by*Stijn Claessens & Nicholas Coleman & Michael S. Donnelly

**How Would US Banks Fare in a Negative Interest Rate Environment?**

*by*David M. Arseneau

**Capital Misallocation and Secular Stagnation**

*by*Andrea Caggese & Ander Perez

**Updating the Long Term Rate in Time: A Possible Approach**

*by*Diana Zigraiova & Petr Jakubik

**The natural rate of interest in a nonlinear DSGE model**

*by*Yasuo Hirose & Takeki Sunakawa

**Unconventional monetary policy: interest rates and low inflation: A review of literature and methods**

*by*Mariarosaria Comunale & Jonas Striaukas

**Stagnation traps**

*by*Gianluca Benigno & Luca Fornaro

**Secular stagnation: Determinants and consequences for Australia**

*by*Grace Taylor & Rod Tyers

**Hoarding international reserves and global liquidity expansion, what are the links and do they matter?**

*by*Nady Rapelanoro

**Testing the Fisher Hypothesis in the G-7 Countries Using I(d) Techniques**

*by*Guglielmo Maria Caporale & Luis A. Gil-Alana

**Inefficient Liquidity Provision**

*by*John Geanakoplos & Kieran James Walsh

**The impact of macroprudential policies and their interaction with monetary policy: an empirical analysis using credit registry data**

*by*Gambacorta, Leonardo & Murcia, Andrés

**Instability, imprecision and inconsistent use of equilibrium real interest rate estimates**

*by*Beyer, Robert & Wieland, Volker

**"Low-For-Long” Interest Rates and Banks' Interest Margins and Profitability: Cross-Country Evidence**

*by*Claessens, Stijn & Coleman, Nicholas & Donnelly, Michael

**Ambiguity, Monetary Policy and Trend Inflation**

*by*Ricardo M. Masolo & Francesca Monti

**The effect of house prices on household borrowing: a new approach**

*by*Cloyne, James & Huber, Kilian & Ilzetzki, Ethan & Kleven, Henrik

**Central bank sentiment and policy expectations**

*by*Hubert, Paul & Labondance, Fabien

**Norwegian interbank market’s response to changes in liquidity policy**

*by*Q. Farooq Akram & Jon H. Findreng

**Forward guidance through interest rate projections: does it work?**

*by*Leif Brubakk & Saskia ter Ellen & Hong Xu

**Subjective Interest Rate Uncertainty and the Macroeconomy: A Cross-country Analysis**

*by*K. Istrefi & S. Mouabbi

**Modelos para los flujos de nuevo credito en EspaÃ±a**

*by*Jose Felix Izquierdo

**The impact of European banking consolidation on credit prices**

*by*Jose Maria Alvarez & Cristina Deblas & Jose Felix Izquierdo & Ana Rubio & Jaime Zurita

**Does Income Gap Matter for Household Debt Accumulation?**

*by*Mohd Afzanizam Abdul Rashid & Tamat Sarmidi & Abu Hassan Shaari Md Nor & Nor Ghani Md Noor

**Das Rätsel der Niedrigzinsphase**

*by*Stefan Homburg & Julia Knolle

**Fiscal deficit and inflation linkages in India: tracking the transmission channels**

*by*M. R. Anantha Ramu & K. Gayithri

**Searching for the Fed’s reaction function**

*by*Katrin Wölfel & Christoph S. Weber

**Macroeconomic Effects of Monetary Policy Shocks**

*by*Kishan Abeygunawardana & Chandranath Amarasekara & C. D. Tilakaratne

**Excess Reserves and Monetary Policy Implementation**

*by*Roc Armenter & Benjamin Lester

**Monetary Policy Accommodation at the Lower Bound**

*by*Signe Krogstrup

**The Dynamic Relationship Between Housing Prices and the Macroeconomy: Evidence from OECD Countries**

*by*N. Kundan Kishor & Hardik A. Marfatia

**Yield curve in India and its interactions with the US bond market**

*by*Krishna Prasanna & Subramaniam Sowmya

**Monitoring of Russia's Economic Outlook**

*by*Bozhechkova Alexandra & Trunin Pavel & Khromov Mikhail & Tsukhlo Sergey & Gurevich Vladimir & Zolotareva Anna

**Monitoring of Russia's Economic Outlook**

*by*Trunin Pavel & Ponomareva Ekaterina & Zubarevich Natalia & Kiyutsevskaya Anna & Larionova M. & Sakharov A. & Shelepov A. & Gurevich Vladimir & Magomedov R. & Rakhmangulov M.

**Monitoring of Russia's Economic Outlook**

*by*Drobyshevsky Sergey & Turuntseva Marina & Loginova Daria & Bozhechkova Alexandra & Trunin Pavel & Averkiev Vladimir

**Monitoring of Russia's Economic Outlook**

*by*Bozhechkova Alexandra & Trunin Pavel & Khromov Mikhail & Tsukhlo Sergey & Gurevich Vladimir & Zolotareva Anna

**Monitoring of Russia's Economic Outlook**

*by*Trunin Pavel & Ponomareva Ekaterina & Zubarevich Natalia & Kiyutsevskaya Anna & Larionova M. & Sakharov A. & Shelepov A. & Gurevich Vladimir & Magomedov R. & Rakhmangulov M.

**Monitoring of Russia's Economic Outlook**

*by*Drobyshevsky Sergey & Turuntseva Marina & Loginova Daria & Bozhechkova Alexandra & Trunin Pavel & Averkiev Vladimir

**Towards an asymmetric long run equilibrium between stock market uncertainty and the yield spread. A threshold vector error correction approach**

*by*Evgenidis, Anastasios & Tsagkanos, Athanasios & Siriopoulos, Costas

**Do analysts' forecasts of term spread differential help predict directional change in exchange rates?**

*by*Baghestani, Hamid & Toledo, Hugo

**Invariance, observational equivalence, and identification: Some implications for the empirical performance of affine term structure models**

*by*Juneja, Januj

**Looking beyond banks’ average interest rate risk: Determinants of high exposures**

*by*Entrop, O. & von la Hausse, L. & Wilkens, M.

**Monetary policy deviations: A Bayesian state-space analysis**

*by*Scott, C. Patrick & Barari, Mahua

**The asymmetry of U.S. monetary policy: Evidence from a threshold Taylor rule with time-varying threshold values**

*by*Zhu, Yanli & Chen, Haiqiang

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

*by*De Rezende, Rafael B.

**Monetary policy and financial spillovers: Losing traction?**

*by*Disyatat, Piti & Rungcharoenkitkul, Phurichai

**Risk assessment on euro area government bond markets – The role of governance**

*by*Boysen-Hogrefe, Jens

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

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

**Excess reserves, monetary policy and financial volatility**

*by*Primus, Keyra

**The equity-like behaviour of sovereign bonds**

*by*Dufour, Alfonso & Stancu, Andrei & Varotto, Simone

**Identifying and measuring the contagion channels at work in the European financial crises**

*by*Guidolin, Massimo & Pedio, Manuela

**The use and effectiveness of macroprudential policies: New evidence**

*by*Cerutti, Eugenio & Claessens, Stijn & Laeven, Luc

**Liquidity measures throughout the lifetime of the U.S. Treasury bond**

*by*Díaz, Antonio & Escribano, Ana

**Sovereign bond markets and financial volatility dynamics: Panel-GARCH evidence for six euro area countries**

*by*Ribeiro, Pedro Pires & Cermeño, Rodolfo & Curto, José Dias

**Term-structure modelling at the zero lower bound: Implications for estimating the forward term premium**

*by*Chung, Tsz-Kin & Hui, Cho-Hoi & Li, Ka-Fai

**The impact of fiscal rules on sovereign risk premia: International evidence**

*by*Thornton, John & Vasilakis, Chrysovalantis

**The role of oil prices in the forecasts of South African interest rates: A Bayesian approach**

*by*Gupta, Rangan & Kotzé, Kevin

**Career experience, political effects, and voting behavior in the Riksbank’s Monetary Policy Committee**

*by*Eichler, Stefan & Lähner, Tom

**Consistency and stability analysis of models of a monetary growth imperative**

*by*Richters, Oliver & Siemoneit, Andreas

**Asset market response to monetary policy news from SNB press releases**

*by*Hüning, Hendrik

**The expected real yield and inflation components of the nominal yield curve**

*by*Lange, Ronald H.

**Solving endogenous regime switching models**

*by*Barthélemy, Jean & Marx, Magali

**Influencing Factors of Net Interest Margin in Turkish Banking Sector**

*by*Serhat Yuksel & Sinemis Zengin

**Do as I Do, and Also as I Say: Monetary Policy Impact on Brazil’s Financial Markets**

*by*Alicia Garcia-Herrero & Eric Girardin & Enestor Dos Santos

**A model of the euro-area yield curve with discrete policy rates**

*by*Renne Jean-Paul

**Les crédits nouveaux à l’habitat des ménages : tendances récentes**

*by*URI, J.

**Asymmetric Effects on Financial Cycles in a Monetary Union with Diverging Country Preferences for Variable- and Fixed-Rate Mortgages**

*by*Michael Richter

**Determinants of Foreign Direct Investment in Romania: a Quantitative Approach**

*by*Calcedonia Enache & Fernando Merino

**Safe Assets, Liquidity, and Monetary Policy**

*by*Pierpaolo Benigno & Salvatore Nisticò

**Optimal Monetary and Prudential Policies**

*by*Fabrice Collard & Harris Dellas & Behzad Diba & Olivier Loisel

**Targeting Long Rates in a Model with Segmented Markets**

*by*Charles T. Carlstrom & Timothy S. Fuerst & Matthias Paustian

**Liquidity Traps and Jobless Recoveries**

*by*Stephanie Schmitt-Grohé & Martín Uribe

**Euro-Area Quantitative Easing and Portfolio Rebalancing**

*by*Ralph S. J. Koijen & François Koulischer & Benoît Nguyen & Motohiro Yogo

**Rents, Technical Change, and Risk Premia Accounting for Secular Trends in Interest Rates, Returns on Capital, Earning Yields, and Factor Shares**

*by*Ricardo J. Caballero & Emmanuel Farhi & Pierre-Olivier Gourinchas

**Aggregate Demand and the Top 1 Percent**

*by*Adrien Auclert & Matthew Rognlie

**The Great Escape? A Quantitative Evaluation of the Fed's Liquidity Facilities**

*by*Marco Del Negro & Gauti Eggertsson & Andrea Ferrero & Nobuhiro Kiyotaki

**Determinants of Bank-Sovereign Distress**

*by*Raphael Espinoza & Miguel Segoviano

**Is Inflation Persistence Different in Reality?**

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

**Functioning of monetary and financial system and the depression of the Russian economy**

*by*V. Manevitch.

**Global-Soziale Marktwirtschaft und die Flüchtlingsfrage**

*by*von Weizsäcker, Carl Christian

**Sovereign Stress, Banking Stress, and Corporate Financing Costs in the Euro Area**

*by*Holtemöller, Oliver

**Regional Banking Instability and FOMC Voting**

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

**Forward Guidance under Disagreement - Evidence from the Fed’s dot projections**

*by*Detmers, Gunda-Alexandra

**Understanding Benign Liquidity Traps: The Case of Japan**

*by*Homburg, Stefan

**Spillovers of banking regulation: The effect of the German bank levy on the lending rates of regional banks and their local competitors**

*by*Haskamp, Ulrich

**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

**Why are policy real interest rates so high in Brazil? An analysis of the determinants of the Central Bank of Brazil's real interest rate**

*by*Balliester Reis, Thereza

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

*by*Bletzinger, Tilman & Wieland, Volker

**Asset market response to monetary policy news from SNB press releases**

*by*Hüning, Hendrik

**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

**Investitionen: Warum wir sie brauchen und wie wir sie kriegen**

*by*Christl, Michael & Köppl-Turyna, Monika & Lorenz, Hanno

**The effect of conventional and unconventional euro area monetary policy on macroeconomic variables**

*by*Halberstadt, Arne & Krippner, Leo

**Below the zero lower bound: A shadow-rate term structure model for the euro area**

*by*Lemke, Wolfgang & Vladu, Andreea L.

**中国地方政府性债务风险与国债定价--基于城投债利差与国债收益率的分析**

*by*牛霖琳 & 洪智武 & 陈国进

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

*by*Gabriele Tondl

**Conventional monetary policy and the degree of interest rate pass through in the long run: a non-normal approach**

*by*Dong-Yop Oh & Hyejin Lee & Karl David Boulware

**Il Debito Pubblico Italiano Analisi Della Sua Composizione Dal 1999 Ad Oggi**

*by*Francesco Rossi & Riccardo Zanrossi

**Explaining the Failure of the Expectations Hypothesis with Short-Term Rates**

*by*Ranaldo, Angelo & Rupprecht, Matthias

**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

**Alternative User Costs, Rates of Return and TFP Growth Rates for the US Nonfinancial Corporate and Noncorporate Business Sectors: 1960-2014**

*by*Diewert, W. Erwin & Fox, Kevin J.

**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

**Co-movement of Exchange Rates with Interest Rate Differential, Risk Premium and FED Policy in “Fragile Economies”**

*by*M. Utku Ozmen & Erdal Yilmaz

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

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

**The Effects of Tax Reforms to Address the Debt-Equity Bias on the Cost of Capital and on Effective Tax Rates**

*by*Centre for European Economic Research (ZEW)

**The Impact of Tax Planning on Forward-Looking Effective Tax Rates**

*by*Centre for European Economic Research (ZEW)

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

*by*Centre for European Economic Research (ZEW)

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

*by*Hännikäinen Jari

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

*by*Jari Hännikäinen

**Credit market heterogeneity, balance sheet (in)dependence, financial shocks**

*by*Chris Garbers & Guangling Liu

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

*by*Håvard Hungnes

**Central Bank Sentiment and Policy Expectations**

*by*Paul Hubert & Fabien Labondance

**Solving Endogenous Regime Switching Models**

*by*Jean Barthélemy & Magali Marx

**Central Bank Sentiment and Policy Expectations**

*by*Paul Hubert & Fabien Labondance

**The effect of ECB forward guidance on policy expectations**

*by*Paul Hubert & Fabien Labondance

**Previdência e taxa de juros no Brasil**

*by*Brian Bolarinwa Ogundairo & Mauro Rodrigues

**A Portfolio Model of Quantitative Easing**

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

**Securitisation, loan growth and bank funding: the Swiss experience since 1932**

*by*Jonas Meuli & Thomas Nellen & Thomas Nitschka

**Networks and lending conditions: Empirical evidence from the Swiss franc money markets**

*by*Silvio Schumacher

**Is Poland at risk of the zero lower bound?**

*by*Michal Brzoza-Brzezina & Marcin Kolasa & Mateusz Szetela

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

*by*Michal Brzoza-Brzezina

**Do Ownership Structure and Market Power Matter in Interest Rate Pass-through? Evidence from Pakistan’s Bank Level Data**

*by*Syed Zulqernain Hussain & Mahmood ul Hasan Khan

**Should Central Bank Forget Reserve Requirements? Assessment of Reserve Requirements in Transmitting SBP’s Policy Shocks to Retail Interest Rates and Exchange Rate**

*by*Muhammad Omer

**Assessing Monetary Policy Effectiveness in Rich Data Environment**

*by*Muhammad Nadim Hanif & Javed Iqbal

**Effects of South African Monetary Policy Implementation on the CMA: A Panel Vector Autoregression Approach**

*by*Monaheng Seleteng (PhD)

**Credit market heterogeneity, balance sheet (in) dependence, financial shocks**

*by*Chris Garbers & Guangling Liu

**Qualitative Guidance and Predictability of Monetary Policy in South Africa**

*by*Alain Kabundi & NtuthukoTsokodibane

**Population growth, saving, interest rates and stagnation**

*by*Peter Spahn

**Housing Prices, Mortgage Interest Rates and the Rising Share of Capital Income in the United States**

*by*Gianni La Cava

**Dynamic 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

**The Effect of Quantitative Easing on Lending Conditions**

*by*Laura Blattner & Luisa Farinha & Gil Nogueira

**Does Primary Sovereignty Risk Matter for Bank Fragility? Evidence from Albanian Banking System**

*by*Shijaku, Gerti

**Does concentration matter for bank stability - evidence from Albanian Banking System**

*by*Shijaku, Gerti

**Does bank competition affect bank stability after the global financial crisis?**

*by*Shijaku, Gerti

**Përcaktuesit mikro- dhe makroekonomikë të marzhit neto të interesave në sistemin bankar shqiptar (2002-2014)**

*by*Papavangjeli, Meri & Leka, Eralda

**Decomposing the Effects of Monetary Policy Using an External Instruments SVAR**

*by*Lakdawala, Aeimit

**The Effects of Chinese Interest Rates and Inflation: A Decomposition of The Fisher Effect**

*by*Bosupeng, Mpho

**On The Fisher Effect: A Review**

*by*Bosupeng, Mpho

**Mathematical model of the economic trend**

*by*Krouglov, Alexei

**Preference for Liquidity of Agents: An Analyse of Brasilian Case**

*by*LAGES, ANDRÉ MAIA GOMES & SANTOS, FABRÍCIO RIOS NASCIMENTO & FERREIRA, HUMBERTO BARBOSA

**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

**Macro Risks and the Term Structure of Interest Rates**

*by*Geert Bekaert & Eric Engstrom & Andrey Ermolov

**Monetary Policy and the Stock Market: Time-Series Evidence**

*by*Andreas Neuhierl & Michael Weber

**Forward Guidance without Common Knowledge**

*by*George-Marios Angeletos & Chen Lian

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

*by*Michael Weber

**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

**The nonlinear nature of country risk and its implications for DSGE models**

*by*Michał Brzoza-Brzezina & Jacek Kotlowski

**Monetary policy transmission mechanism in Poland.What do we know in 2015?**

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**Imperfect information, macroeconomic dynamics and the yield curve : an encompassing macro-finance model**

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**Simulation**

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**Models with Uncertain Volatility**

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**Mathematical Preparation**

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**Introduction and Overview**

*by*T W EPPS

**Interest Rate Proprietary Trading Strategies**

*by*YI TANG & BIN LI

**Inflation Linked Instruments Modeling**

*by*YI TANG & BIN LI

**Yield Decomposition Model**

*by*YI TANG & BIN LI

**The Holy Grail — Two-Factor Interest Rate Arbitrage**

*by*YI TANG & BIN LI

**Two-Factor Risk Model**

*by*YI TANG & BIN LI

**Yield Curve Modeling**

*by*YI TANG & BIN LI

**Simple Interest Rate Products**

*by*YI TANG & BIN LI

**Credit Risk Modeling and Pricing**

*by*YI TANG & BIN LI

**The Interest Rate Market Model**

*by*YI TANG & BIN LI

**The Heath-Jarrow-Morton Framework**

*by*YI TANG & BIN LI

**Introduction to Interest Rate Term Structure Modeling**

*by*YI TANG & BIN LI

**Martingale Resampling and Interpolation**

*by*YI TANG & BIN LI

**The Black-Scholes Framework and Extensions**

*by*YI TANG & BIN LI

**Martingale Arbitrage Pricing in Real Market**

*by*YI TANG & BIN LI

**Introduction to Counterparty Credit Risk**

*by*YI TANG & BIN LI

**Pricing Derivative Securities**

*by*Thomas W Epps

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

*by*Friedrich Heinemann & Katrin Ullrich

**The Predictive Power of Interest Rates Spread for Economic Activity**

*by*Raffaele Passaro

**Emerging Markets’ Deficits, Privatization, and Interest Rates**

*by*Walker, David A.

**Economic transparency and poverty**

*by*Helder Ferreira De Mendonça & Josè Simao Filho

**Economic transparency and poverty**

*by*Helder Ferreira De Mendonça & Josè Simao Filho

**Úrokový transmisní mechanismus a řízení úrokové marže bank v kontextu dezinflační politiky České národní banky**

*by*Karel Brůna

**Vliv zveřejněných informací na výnosovou křivku**

*by*Vladimir Pikora

**Měnová politika, změny trendové inflace a nestabilita úrokových relací: analýza dynamiky dlouhodobých úrokových sazeb v kontextu změn repo sazby české národní banky**

*by*Karel Brůna

**Determinants of Interest Spread in Pakistan**

*by*M. Idrees Khawaja & Musleh-Ud Din

**The flattening of the yield curve : causes and economic policy implications**

*by*M. Collin

**The flattening of the yield curve : causes and economic policy implications**

*by*M. Collin

**The liquidity management of the Eurosystem during the period of financial turmoil**

*by*Luc Aucremanne & Jef Boeckx & Olivier Vergote

**The liquidity management of the Eurosystem during the period of financial turmoil**

*by*Luc Aucremanne & Jef Boeckx & Olivier Vergote

**The theory and practice of interest rate smoothing**

*by*Ágnes Csermely & András Rezessy

**Kelet-közép-európai devizaárfolyamok előrejelzése határidős árfolyamok segítségével**

*by*Darvas, Zsolt & Schepp, Zoltán

**The Determinants of Sovereign Bond Spreads: Theory and Facts From Latin America**

*by*Martín Grandes

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

*by*Hiroshi Ugai

**Interest Rate Setting by the ECB, 1999-2006: Words and Deeds**

*by*Stefan Gerlach

**Low Nominal Interest Rates: A Public Finance Perspective**

*by*Noritaka Kudoh

**Transparency, Disclosure, and the Federal Reserve**

*by*Michael Ehrmann & Marcel Fratzscher

**Striving to Be “Clearly Open” and “Crystal Clear”: Monetary Policy Communication of the CNB**

*by*Kateøina Šmídková & Aleš Bulíø

**Some Benefits of Monetary-Policy Transparency in New Zealand**

*by*Aron Drew & Özer Karagedikli

**The Science and Art of Monetary-Policy Communication**

*by*Martin Èihák

**O componente ´custo de oportunidade´ do spread bancário no Brasil: uma abordagem pós-keynesiana**

*by*Carvalho, Carlos Eduardo

**Determinación de una estructura de plazos para el mercado de renta fija de México mediante un modelo de tres factores para la dinámica de la tasa corta**

*by*René Benjamín Pérez Sicairos

**Modelling The German Yield Curve And Testing The Lucas Critique, 1975-2001**

*by*SANTOS, Carlos & OLIVEIRA, Maria Alberta

**Measuring Interest Rates as Determined by Thrift and Productivity**

*by*Woon Gyu Choi

**La Tasa De Interés Natural En Colombia**

*by*JUAN JOSÉ ECHAVARRÍA SOTO & ENRIQUE LÓPEZ ENCISO & MARTHA MISAS ARANGO & JUANA TÉLLEZ CORREDOR- JUAN CARLOS PARRA ÁLVAREZ

**Unit roots and persistence in the nominal interest rate: a confirmatory analysis applied to the OECD**

*by*Diego Romero-Ávila

**What drives provincial-Canada yield spreads?**

*by*Laurence Booth & George Georgopoulos & Walid Hejazi

**The Canadian macroeconomy and the yield curve: an equilibrium-based approach**

*by*René Garcia & Richard Luger

**La demande de titres longs par les non-residents explique-t-elle le bas niveau des taux longs publics americains ?**

*by*Bruno Ducoudre

**The Money Market Daily Session :an UHF-GARCH Model Applied to the Portuguese Case Before and After the Introduction Of the Minimum Reserve System of the Single Monetary Policy**

*by*Fatima Sol Murta

**Determinants of bank interest rates and comparisons between Greece and the euro area**

*by*Sophocles N. Brissimis & Thomas Vlassopoulos

**The bond market term premium: what is it, and how can we measure it?**

*by*Don H Kim & Athanasios Orphanides

**Cracking the Conundrum**

*by*David K. Backus & Jonathan H. Wright

**L’accès des PME aux financements bancaires**

*by*GABRIELLI, D.

**Les incidences de la réforme de l’usure sur les modalités de financement des PME**

*by*GABRIELLI, D. & HOUSNI-FELLAH, M. & OUNG, V.

**La Tasa De Interés Natural En Colombia**

*by*JUAN JOSÉ ECHAVARRÍA SOTO & ENRIQUE LÓPEZ ENCISO & MARTHA MISAS ARANGO & JUANA TÉLLEZ CORREDOR & JUAN CARLOS PARRA ÁLVAREZ

**Macroeconomic factors in the term structure of interest rates when agents learn**

*by*Thomas Laubach & Robert J. Tetlow & John C. Williams

**Optimal Simple Nonlinear Rules for Monetary Policy in a New-Keynesian Model**

*by*Paolo Zagaglia & Massimiliano Marzo & Ingvar Strid

**Asset pricing implications of a New Keynesian model**

*by*Bianca De Paoli & Alasdair Scott & Olaf Weeken

**Monetary Policy and the Term Structure: A Fully Structural DSGE approach**

*by*Massimiliano Marzo & Ulf Sodestrom & Paolo Zagaglia

**Economic activity and Recession Probabilities: spread predictive power in Italy**

*by*Costanza Torricelli & Marianna Brunetti

**(Un)naturally low?**

*by*Silvia Sgherri & Marco J. Lombardi

**Using genetic algorithms to improve the term structure of interest rates fitting**

*by*Ricardo Gimeno & Juan M. Nave

**Debt Management Under Complete Markets**

*by*Elisa Faraglia & Albert Marcet & Andrew Scott

**Production, Collateral and the Risk-Free Rate**

*by*Geoffrey Dunbar

**The Role of Banks in the Transmission of Monetary Policy in the Baltics**

*by*Köhler, Matthias & Hommel, Judith & Grote, Matthias

**Does money matter in the ECB strategy? New evidence based on ECB communication**

*by*Berger, Helge & de Haan, Jakob & Sturm, Jan-Egbert

**How the ECB and US Fed set interest rates**

*by*Belke, Ansgar & Polleit, Thorsten

**Money in monetary policy design under uncertainty: A formal characterization of ECB-style cross-checking**

*by*Beck, Günter W. & Wieland, Volker

**Money in monetary policy design under uncertainty: The two-pillar Phillips curve versus ECB-style cross-checking**

*by*Beck, Günter W. & Wieland, Volker

**Mean variance optimization of non-linear systems and worst-case analysis**

*by*Parpas, Panos & Rustem, Berc & Wieland, Volker & Zakovic, Stan

**Fiscal institutions, fiscal policy and sovereign risk premia**

*by*Hallerberg, Mark & Wolff, Guntram B.

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

*by*Bernoth, Kerstin & Wolff, Guntram B.

**Bond pricing when the short term interest rate follows a threshold process**

*by*Lemke, Wolfgang & Archontakis, Theofanis

**The dynamic relationship between the Euro overnight rate, the ECB´s policy rate and the term spread**

*by*Offermanns, Christian J. & Nautz, Dieter

**Interest Rate Pass-Through in Central and Eastern Europe: Reborn from Ashes Merely to Pass Away?**

*by*Bal??zs ??gert & Jesus Crespo-Cuaresma & Thomas Reininger

**Real-Time Time-Varying Equilibrium Interest Rates: Evidence on the Czech Republic**

*by*Roman Horv??th

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

*by*Tigran Poghosyan & Evzen Kocenda &

**A Yield Curve Perspective on Uncovered Interest Parity**

*by*Leo Krippner

**A Yield Curve Perspective on Uncovered Interest Parity**

*by*Leo Krippner

**Low inflation, a high net savings surplus and institutional restrictions keep the Japanese long-term interest rate low**

*by*Jansen, Pieter W.

**Did capital market convergence lower the effectiveness of the interest rate as a monetary policy tool?**

*by*Jansen, Pieter W.

**Modelling the Duration of Interest Rate Spells Under Inflation Targeting in Canada**

*by*Ruby Shih & David E. A. Giles

**Random walks and cointegration relationships in international parity conditions between Germany and USA for the Bretton-Woods period**

*by*Bevilacqua, Franco

**Random walks and cointegration relationships in international parity conditions between Germany and USA for the post Bretton-Woods period**

*by*Bevilacqua, Franco

**A Further Look into the Demography-based GDP Forecasting Method**

*by*Tapas K. Mishra

**Valor en Riesgo en carteras de renta fija: una comparación entre modelos empíricos de la estructura temporal**

*by*Pilar Abad & Sonia Benito

**Sovereign Risk Premiums in the European Government Bond Market**

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

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

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

**The Determinants of Sovereign Spreads in Emerging Markets**

*by*Olcay Yucel Culha & Fatih Ozatay & Gulbin Sahinbeyoglu

**Determinants of long-term interest rates in the Scandinavian countries**

*by*Suzan Hol

**Market Reactions to Central Bank Communication Policies :Reading Interest Rate Options Smiles**

*by*Marie Briere

**On the Expectations Hypothesis in US Term Structure**

*by*Erdenebat Bataa & Dong Heon Kim & Denise R. Osborn

**The term structure of inflation risk premia and macroeconomic dynamics**

*by*Peter HÃ¶rdahl & Oreste Tristani & David Vestin

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

*by*Federico Ravenna & University of California & Juha Seppala & University of Illinois

**The Fractional OU Process: Term Structure Theory and Application**

*by*Esben Hoeg & Per Frederiksen

**Macroeconomic Models and the Yield Curve**

*by*Jagjit Chadha & Sean Holly

**Endogenous State Prices, Liquidity, Default, and the Yield Curve**

*by*Raphael A. Espinoza & Charles A. E. Goodhart & Dimitrios P. Tsomocos

**Taking Personalities out of Monetary Policy Decision Making? Interactions, Heterogeneity and Committee Decisions in the Bank of Englandâ€™s MPC**

*by*Arnab Bhattacharjee & Sean Holly

**Labour and Product Market Reforms in the Economy with Distortionary Taxation**

*by*Nikola Bokan & Andrew Hughes Hallett

**Using Taylor Rules to Assess the Relative Activism of the European Central Bank, the Bank of England and the Federal Reserve Board**

*by*David Cobham

**Testing for Parameter Stability in Dynamic Models Across Frequencies**

*by*Bertrand Candelon & Gianluca Cubadda

**Alongamento dos títulos de renda fixa no Brasil**

*by*Márcio Gomes Pinto Garcia & Juliana Salomão

**Monetary Policy Rules and Exchange Rates:A Structural VAR Identified by No Arbitrage**

*by*Sen Dong

**Growth-Indexed Bonds in Emerging Markets: a Quantitative Approach**

*by*Andre Faria

**Why Do Emerging Economies Borrow Short Term?**

*by*Fernando Broner & Guido Lorenzoni & Sergio Schmuckler

**Measuring the Natural Interest Rate for the Peruvian Economy**

*by*Paul Castillo & Carlos Montoro & Vicente Tuesta

**Optimal Monetary Policy with Real-time Signal Extraction from the Bond Market**

*by*Kristoffer Nimark

**Term Structure Rules for Monetary Policy**

*by*Mariano Kulish

**Identifying asset price booms and busts with quantile regressions**

*by*José Ferreira Machado & João Sousa

**Monetary Policy Today: Sixteen Questions and about Twelve Answers**

*by*Alan S. Blinder

**Real-Time Time-Varying Equilibrium Interest Rates: Evidence on the Czech Republic**

*by*Horvath, Roman

**Acceso de la banca de desarrollo al banco central: El caso de COFIDE y las tasas de interés en el Perú**

*by*Jiménez Sotelo, Renzo

**Stock Market Development, Capital Accumulation and Growth in India since 1950**

*by*Sarkar, Prabirjit

**Identifying Determinants of the Cost of Long Term Borrowing for U.S. Firms: Insights for Management**

*by*Cebula, Richard & McGrath, Richard

**Further evidence on the impact of economic news on interest rates**

*by*Ielpo, Florian & Guégan, Dominique

**Bonds futures: Delta? No gamma!**

*by*Henrard, Marc

**Bonds futures and their options: more than the cheapest-to-deliver; quality option and marginning**

*by*Henrard, Marc

**Why Are Interest Rates So Low?**

*by*John, Tatom

**TIPS Options in the Jarrow-Yildirim model**

*by*Henrard, Marc

**An Interpretation of An Affine Term Structure Model for Chile**

*by*Juan Marcelo, Ochoa

**A Reinterpretation and Remedy of Keynes’s Liquidity Preference Theory**

*by*Wenge Huang

**A Three-Factor Yield Curve Model: Non-Affine Structure, Systematic Risk Sources, and Generalized Duration**

*by*Francis X. Diebold & Lei Ji & Canlin Li

**Factors Behind Low Long-Term Interest Rates**

*by*Rudiger Ahrend & Pietro Catte & Robert W. R. Price

**Heterogeneous Expectations and Bond Markets**

*by*Wei Xiong & Hongjun Yan

**Revealing the Secrets of the Temple: The Value of Publishing Central Bank Interest Rate Projections**

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

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

*by*Francis E. Warnock & Veronica Cacdac Warnock

**Modern Macroeconomics in Practice: How Theory is Shaping Policy**

*by*Patrick Kehoe & Varadarajan V. Chari

**Can Central Banks Target Bond Prices?**

*by*Kenneth Kuttner

**A General Stochastic Volatility Model for the Pricing and Forecasting of Interest Rate Derivatives**

*by*Anders B. Trolle & Eduardo S. Schwartz

**The term structure of interest rates in a DSGE model**

*by*Marina Emiris

**The term structure of interest rates in a DSGE model**

*by*Marina Emiris

**The term structure of interest rates in a DSGE model**

*by*Marina Emiris

**Structural breaks in the interest rate pass-through and the euro. A cross-country study in the euro area and the UK**

*by*Giuseppe Marotta

**Multiple breaks in lending rate pass-through A cross country study for the euro area**

*by*Gianluca Di Lorenzo & Giuseppe Marotta

**Multiple breaks in lending rate pass-through A cross country study for the euro area**

*by*Gianluca Di Lorenzo & Giuseppe Marotta

**Structural breaks in the interest rate pass-through and the euro. A cross-country study in the euro area and the UK**

*by*Giuseppe Marotta

**Multiple breaks in lending rate pass-through A cross country study for the euro area**

*by*Gianluca Di Lorenzo & Giuseppe Marotta

**The effect of the MNB’s communication on financial markets**

*by*Péter Gábriel & Klára Pintér

**A Factor Model of the Term Structure of Interest Rates and Risk Premium Estimation for Latvia's Money Market**

*by*Viktors Ajevskis & Kristine Vitola

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

*by*Ilias Lekkos & Costas Milas & Theodore Panagiotidis

**The Impact of ECB Communication on Financial Market Expectations**

*by*Michael Lamla & Sarah M. Rupprecht

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

*by*Helge Berger & Jakob de Haan & Jan-Egbert Sturm

**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.

**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

**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

**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 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 & Martínez, María Isabel & Navarro, Eliseo & Rubio Irigoyen, Gonzalo

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

*by*Carlo Rosa & Giovanni Verga

**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

**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

**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

**Global monetary instability: The role of the IMF, the EU and NAFTA**

*by*A. G. Malliaris

**Equity And Oil Markets Under External Shocks**

*by*Jorge Urrutia & A. G. Malliaris

**Oil And World Stock Markets' Reaction To The Gulf Crisis**

*by*A. G. Malliaris & Jorge L. Urrutia

**The Impact Of The Persian Gulf Crisis On National Equity Markets**

*by*A. G. Malliaris & Jorge L. Urrutia

**The International Crash of October 1987: Causality Tests**

*by*A. G. Malliaris & Jorge L. Urrutia

**Monetary Policy And The U.S. Stock Market**

*by*MARC D. HAYFORD & A. G. MALLIARIS

**How did the Fed react to the 1990s stock market bubble? Evidence from an extended Taylor rule**

*by*M. D. Hayford & A. G. Malliaris

**Is The Federal Reserve Stock Market Bubble-Neutral?**

*by*Marc D. Hayford & A. G. Malliaris

**Are There Rational Bubbles In The U.S Stock Market? Overview And A New Test**

*by*Ramaprasad Bhar & A. G. Malliaris

**Multi-Fractality in Foreign Currency Markets**

*by*Marco Corazza & A. G. Malliaris

**European Stock Market Fluctuations: Short And Long Term Links**

*by*A. G. Malliaris & Jorge L. Urrutia

**Chaotic Behavior in Prices of European Equity Markets: A Comparative Analysis of Major Economic Regions**

*by*George C. Philippatos & Efi Pilarinu & A. G. Malliaris

**Methodological issues in asset pricing: Random walk or chaotic dynamics**

*by*A. G. Malliaris & Jerome L. Stein

**Money, inflation and interest rates: Illustrations from twelve European economies**

*by*A. G. Malliaris & Silvana Stefani

**Several Illustrations of the Quantity Theory of Money: 1947–1987 and 1867–1975**

*by*A. G. MALLIARIS

**Decomposition of Inflation and its Volatility: A Stochastic Approach**

*by*A. G. MALLIARIS & MARY E. MALLIARIS

**Interest rates and inflation: A continuous time stochastic approach**

*by*A. G. Malliaris & Walter F. Mullady & M. E. Malliaris

**An empirical investigation among real, monetary and financial variables**

*by*A. G. Malliaris & Jorge L. Urrutia

**How big is the random walk in macroeconomic time series: Variance ratio tests**

*by*A. G. Malliaris & Jorge L. Urrutia

**Asymptotic Growth under Uncertainty: Existence and Uniqueness**

*by*FWU-RANQ CHANG & A. G. MALLIARIS

**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

**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*Jes??s Crespo-Cuaresma & Bal??zs ??gert & 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 SantamarÃa & Javier GÃ³mez 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

**Une théorie de l'inflation optimales fondée sur les contraintes du crédit**

*by*Xavier Ragot

**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

**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

**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

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*by*Hans Joachim Voth

**Evaluating Asset-Pricing Models Using The Hansen-Jagannathan Bound: A Monte Carlo Investigation**

*by*Otrok, Christopher & Ravikumar, B. & Whiteman, Charles H.

**The Term Structure of Interest Rates and Inflation Forecast Targeting**

*by*Eijffinger, S.C.W. & Schaling, E. & Verhagen, W.H.

**An Optimising Model for Monetary Policy Analysis: Can Habit Formation Help?**

*by*Jeffrey C. Fuhrer

**Testing the predictive power of New Zealand bank bill futures rates**

*by*Leo Krippner

**Discrete-Time Models of Bond Pricing**

*by*David Backus & Silverio Foresi & Chris Telmer

**Predictable Changes in Yields and Forward Rates**

*by*David Backus & Silverio Foresi & Abon Mozumdar & Liuren Wu

**¿Existe un efecto Fisher en el largo plazo? Evidencia para la economía española, 1962-1996**

*by*Oscar Bajo & Vicente Esteve

**Uncovering Financial Markets Beliefs About Inflation Targets**

*by*RUGE-MURCIA, Francisco J.

**Monetary Policy and Market Interest Rates**

*by*Ellingsen, Tore & Söderström, Ulf

**The Informational Advantage of Foreign Investors: An Empirical Study of the Swedish Bond Market**

*by*Säfvenblad, Patrik

**Interest Rate Forecasting with Neural Networks**

*by*Jan Täppinen

**Stock-Returns and Inflation in a Principal-Agent Economy**

*by*Jovanovic, B. & Ueda, M.

**What was the Market's View of UK Monetary Policy? Estimating Inflation Risk and Expected Inflation with Indexed Bonds**

*by*Jacobs, Mike & Remolona, Eli & Wickens, Michael R.

**Reading Interest Rate and Bond Futures Options' Smiles Around the 1997 French Snap Election**

*by*Coutant, Sophie & Jondeau, Eric & Rockinger, Michael

**Does the Term Structure Predict Recessions? The International Evidence**

*by*Bernard, Henri J & Gerlach, Stefan

**Threat of a Capital Levy, Expected Devaluation and Interest Rates in Inter-War France**

*by*Sicsic, Pierre

**Extracting Expectations about 1992 UK Monetary Policy from Option Prices**

*by*Söderlind, Paul

**Does Financial Reform Raise or Reduce Savings?**

*by*Oriana Bandiera & Gerard Caprio Jr. & Patrick Honohan & Fabio Schiantarelli

**Modeling fixed income excess returns**

*by*Basma Bekdache & Christopher F. Baum

**La prevision des taux longs français et allemands a partir d'un modele a anticipations rationnelles**

*by*Jondeau, E. & Sedillot, F.

**Reading Interest Rate and Bond Futures Options' Smiles: How PIBOR and National Operators Appreciated the 1997 French Snap Election**

*by*Coutant, S. & Jondeau, E. & Rockinger, M.

**Threat of a Capital Levy, Expected Devaluation and Interest Rates in France during the Interwar Period**

*by*Hautcoeur, P-C. & Sicsic, P.

**The Probability Density Function of Interest Rates Implied in the Price of Options**

*by*Fabio Fornari & Roberto Violi

**Predicting Canadian Recessions Using Financial Variables: A Probit Approach**

*by*Atta-Mensah, Joseph & Tkacz, Greg

**Interest rate parity: Is it alternative for the computation of the equilibrium exchange rate in Venezuela?**

*by*Josefa Ramoni Perazzi

**The optimality of nominal contracts**

*by*Guido Tabellini & Scott Freeman

**Unstable and stable steady-states in the Kiyotaki-Wright model**

*by*Juan-Manuel Renero

**Path dependent options on yields in the affine term structure model**

*by*Olivier Scaillet & Boris Leblanc

**Implied interest rate pricing models**

*by*J.E. Kennedy & P.J. Hunt

**Volatility of the short rate in the rational lognormal model**

*by*Lisa R. Goldberg

**Anticipation and Surprises in Central Bank Interest Rate Policy: The Case of the Bundesbank**

*by*Daniel C. Hardy

**La internacionalización de la estructura temporal de tipos de interés española**

*by*PAYERAS LLODRÁ, M.

**Tasas de Interés Nominal de Corto Plazo en Chile: Una Comparación Empírica de sus Modelos**

*by*Franco Parisi

**¿Importa la independencia? el caso del Banco Central colombiano**

*by*Mauricio Cárdenas & Zeinab Partow

**Regime Sensitive Cointegration with an Application to Interest rate Parity**

*by*Siklos, P.L. & Granger, C.W.J.

**The Wicksell Connection, The Quantity Theory and Keynes**

*by*Laidler, D.

**Market Expectations in the UK Before and After the ERM Crisis**

*by*Söderlind, Paul

**Monetary Policy and the Fisher Effect**

*by*Söderlind, Paul

**A Latent Factor Model of European Exchange Rate Risk Premia**

*by*Alexius, Annika & Sellin, Peter

**Robust GMM Estimators and Tests for Models of the Term Structure of Interest Rates**

*by*Elvezio Ronchetti & Fabio Trojani

**International Differences in Interest Rates**

*by*Simkin, C.

**Incomplete Markets: Convergence of Options Values under the Minimal Martingale Measure. The Multidimensional Case**

*by*Prigent, J.L.

**Convergence of Discrete Time Options Pricing Models under Stochastic Rates**

*by*Lesne, J.P. & Prigent, J.L. & Scaillet, O.

**Interest Rate Linkages in the Exchange Rate Mechanism : Tests for Asymmetry, German Dominance and Interest Rate Parity Using Daily Data Over 1990 to 1997**

*by*Thom, R

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

*by*Balmaseda, M. & Braun, R.A. & Nieto, E.

**Long-Term Interest Rate Convergence in Europe and the Probability of EMU**

*by*Angeloni, I. & Violi, R.

**Which alternative to choose: does the excess sensitivity hypothesis or a time varying term premium explain the failure of the rational expectations hypothesis of the term structure?**

*by*Tzavalis, Elias

**Pricing and Hedging of Contingent Claims in Term Structure Models with Exogenous Issuing of New Bonds**

*by*Sommer, Daniel

**Are Ex-Post Real Interest Rates a Good Proxy for Ex-Ante Real Rates? An International Comparison with a CCAPM Framework**

*by*Juan Ayuso & J. David LÃ³pez-Salido

**The Impact of Changes in Expected Marginal Tax Rates on Nominal Interest Rates**

*by*Hosek, William R. & Zahn, Frank

**A class of Health-Jarrow-Morton models in which the unbiased expectations hypothesis holds**

*by*Riedel, Frank

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

*by*Manfred J.M. Neumann & Jens Weidmann

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

*by*Jens Weidmann

**Phenomenology of the interest curve**

*by*Jean-Philippe BOUCHAUD & Rama CONT & Nicole EL KAROUI & Marc POTTERS & Nicolas SAGNA

**On the relevance of modeling volatility for pricing purposes**

*by*Manuel Moreno

**Risk management under a two-factor model of the term structure of interest rates**

*by*Manuel Moreno

**Stock returns, term structure, inflation and real activity: An international perspective**

*by*Fabio Canova & Gianni de Nicolo

**An Empirical Analysis of the Impact of Federal Budget Deficits on Long-term Nominal Interest Rate Yields, 1973.2-1995.4, Using Alternative Expected Inflation Measures**

*by*Cebula, Richard

**Monetary Policy in Japan, Germany and the United States: Does One Size Fit All?**

*by*Menzie D. Chinn & Michael P. Dooley

**On the Optimality of Interest Rate Smoothing**

*by*Sergio Rebelo & Danyang Xie

**Interest Rate Targeting and the Dynamics of Short-Term Rates**

*by*Pierluigi Balduzzi & Giuseppe Bertola & Silverio Foresi & Leora Klapper

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

*by*Paul Soderlind & Lars E. O. Svensson

**The Generalized War of Attrition**

*by*Jeremy Bulow & Paul Klemperer

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

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

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

*by*Söderlind, Paul

**Interest Rate Dynamics and Consistent Forward Rate Curves**

*by*Björk, Tomas & Christensen, Bent Jesper

**Minimal Realizations of Forward Rates**

*by*Björk, Tomas & Gombani, Andrea

**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

**Análisis Coyuntural. I. Petróleo. II. evolución reciente de la tasa de cambio en Colombia**

*by*Fedesarrollo

**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

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

*by*Krämer, Jörg W.

**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 D. 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.

**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

**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

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

*by*Masson, Paul R

**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

**Riesgos bancarios y tipo de interés**

*by*Ricardo Laiseca Asla

**La economía venezolana**

*by*Javier Fernández Riva

**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

**La demanda de dinero en el corto y en el largo plazo en Colombia**

*by*Santiago Herrera A. & Juan Manuel Julio

**Economía mexicana**

*by*Nohora Isabel Vargas

**Economía Ecuatoriana**

*by*Blanca Amalia Llorente & Lucía Victoria Beltrán

**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

**La política monetaria en españa: la historia reciente y la crisis en 1992**

*by*Antonio Argandoña

**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

**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

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