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Money Growth Variability and the Term Structure of Interest in Japan

Author

Listed:
  • Lynch, G-J
  • Ewing, B-T

Abstract

The hypothesis of this paper is that uncertain money growth leads to an increased yield spread between short term and long term interest rates. Since current inflation is obviously the same at any given time, the change in the term structure can be explained, in part, by the greater degree of uncertainty in the long term caused by monetary uncertainty.

Suggested Citation

  • Lynch, G-J & Ewing, B-T, 1995. "Money Growth Variability and the Term Structure of Interest in Japan," Papers 95-005, Purdue University, Krannert School of Management - Center for International Business Education and Research (CIBER).
  • Handle: RePEc:fth:purkib:95-005
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    More about this item

    Keywords

    JAPAN; INTEREST RATE; INFLATION;

    JEL classification:

    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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