Money growth and interest rates:
"Our paper explores a transmission mechanism of monetary policy through bond market. Based on the assumption of delayed responses of economic agents to monetary shocks, we derive a system of equations relating the term structure of interest rates with the past history of money growth rates and...
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| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cambridge, Mass.
National Bureau of Economic Research
2005
|
| Series: | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series
11102 |
| Subjects: | |
| Online Access: | Volltext |
| Summary: | "Our paper explores a transmission mechanism of monetary policy through bond market. Based on the assumption of delayed responses of economic agents to monetary shocks, we derive a system of equations relating the term structure of interest rates with the past history of money growth rates and test the equations with the US data. Our results confirm that the higher ordered moments of money growth rate(converted from the past history of money growth rates) influence the yields of bonds with various maturities in different timing as well as in different magnitudes and monetary policy targeting a certain shape of the term structure of interest rates could be implemented with certain time lags due to path-dependency of interest rates"--National Bureau of Economic Research web site. |
| Physical Description: | 56 S. graph. Darst. |
Staff View
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| 490 | 1 | |a National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |v 11102 | |
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| geographic | USA |
| geographic_facet | USA |
| id | DE-604.BV019891042 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T20:08:31Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-013215053 |
| oclc_num | 57703218 |
| open_access_boolean | 1 |
| owner | DE-703 DE-521 DE-19 DE-BY-UBM |
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| physical | 56 S. graph. Darst. |
| publishDate | 2005 |
| publishDateSearch | 2005 |
| publishDateSort | 2005 |
| publisher | National Bureau of Economic Research |
| record_format | marc |
| series | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| series2 | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| spelling | Hur, Seok-kyun 1969- Verfasser (DE-588)130456640 aut Money growth and interest rates Seok-Kyun Hur Cambridge, Mass. National Bureau of Economic Research 2005 56 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 11102 "Our paper explores a transmission mechanism of monetary policy through bond market. Based on the assumption of delayed responses of economic agents to monetary shocks, we derive a system of equations relating the term structure of interest rates with the past history of money growth rates and test the equations with the US data. Our results confirm that the higher ordered moments of money growth rate(converted from the past history of money growth rates) influence the yields of bonds with various maturities in different timing as well as in different magnitudes and monetary policy targeting a certain shape of the term structure of interest rates could be implemented with certain time lags due to path-dependency of interest rates"--National Bureau of Economic Research web site. Ökonometrisches Modell Interest rates Econometric models Monetary policy United States USA Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 11102 (DE-604)BV002801238 11102 http://papers.nber.org/papers/w11102.pdf kostenfrei Volltext |
| spellingShingle | Hur, Seok-kyun 1969- Money growth and interest rates National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series Ökonometrisches Modell Interest rates Econometric models Monetary policy United States |
| title | Money growth and interest rates |
| title_auth | Money growth and interest rates |
| title_exact_search | Money growth and interest rates |
| title_full | Money growth and interest rates Seok-Kyun Hur |
| title_fullStr | Money growth and interest rates Seok-Kyun Hur |
| title_full_unstemmed | Money growth and interest rates Seok-Kyun Hur |
| title_short | Money growth and interest rates |
| title_sort | money growth and interest rates |
| topic | Ökonometrisches Modell Interest rates Econometric models Monetary policy United States |
| topic_facet | Ökonometrisches Modell Interest rates Econometric models Monetary policy United States USA |
| url | http://papers.nber.org/papers/w11102.pdf |
| volume_link | (DE-604)BV002801238 |
| work_keys_str_mv | AT hurseokkyun moneygrowthandinterestrates |