Arbeitspapier
Measuring the long-term perception of monetary policy and the term structure
This paper has two objectives.The first is to identify the long-term public perception of monetary policy.The second is to identify the relationship between this perception and long-term bond rates.For German data, the use of a two-factor model of the term structure results in the best forecast of long-term interest rates for the period between January 1975 and January 2003.It also allows us to introduce as the second factor the long-term perception of inflation as a characteristic of the behaviour of monetary authorities.
- ISBN
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952-462-138-X
- Language
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Englisch
- Bibliographic citation
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Series: Bank of Finland Discussion Papers ; No. 12/2004
- Classification
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Wirtschaft
Interest Rates: Determination, Term Structure, and Effects
- Subject
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expectations hypothesis
monetary policy
changepoints
- Event
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Geistige Schöpfung
- (who)
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Rautureau, Nicolas
- Event
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Veröffentlichung
- (who)
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Bank of Finland
- (where)
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Helsinki
- (when)
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2004
- Handle
- Last update
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10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Rautureau, Nicolas
- Bank of Finland
Time of origin
- 2004
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