Articles liés à Finance and Economics Discussion Series: The Aggregate...

Finance and Economics Discussion Series: The Aggregate Demand Effects of Short- and Long-Term Interest Rates - Couverture souple

Kiley, Michael T

 
9781288699056: Finance and Economics Discussion Series: The Aggregate Demand Effects of Short- and Long-Term Interest Rates
Couverture souple
ISBN 10 : 1288699050 ISBN 13 : 9781288699056
Editeur : BiblioBazaar, LLC, 2013

Synopsis

I develop empirical models of the U.S. economy that distinguish between the aggregate demand effects of short- and long-term interest rates-one with clear "microfoundations" and one more loosely motivated. These models are estimated using government and private long-term bond yields. Estimation results suggest short- and long-term interest rates both influence aggregate spending. The results indicate that the short-term interest rate has a larger influence on economic activity, through its impact on the entire term structure, than term and risk premiums (for equal-sized movements in long-term interest rates). Potential policy implications are discussed.

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Éditeur
BiblioBazaar, LLC
Date d'édition
2013
Langue
anglais
ISBN 10 
1288699050
ISBN 13 
9781288699056
Reliure
Broché
Nombre de pages
34
Coordonnées du fabricant
non disponible
Personne responsable
non disponible