The Term Structure of Interest Rates and Monetary Policy During a Zero-Interest-Rate Period /
This paper empirically evaluates the validity of the term structure of interest rates in a low-interest-rate environment. Applying a time-series method to high-frequency Japanese data, the term-structure model is found to be useful for economic analysis only when interest rates are high. When intere...
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| Materialtyp: | Tidskrift |
| Språk: | English |
| Publicerad: |
Washington, D.C. :
International Monetary Fund,
2003.
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| Serie: | IMF Working Papers; Working Paper ;
No. 2003/208 |
| Länkar: | Full text available on IMF |