Macrofinance Model of the Czech Economy : Asset Allocation Perspective.

The paper developes a VAR macrofinance model of the Czech economy. It shows that yield misalignments from the yields implied by the macrofinance model partially determine subsequent yield changes over three to nine months. These yield misalignments tend to persist for a number of months. This persis...

Full description

Bibliographic Details
Corporate Author: International Monetary Fund
Format: Journal
Language:English
Published: Washington, D.C. : International Monetary Fund, 2012.
Series:IMF Working Papers; Working Paper ; No. 2012/078
Online Access:Full text available on IMF
LEADER 01672cas a2200241 a 4500
001 AALejournalIMF011746
008 230101c9999 xx r poo 0 0eng d
020 |c 5.00 USD 
020 |z 9781475502305 
022 |a 1018-5941 
040 |a BD-DhAAL  |c BD-DhAAL 
110 2 |a International Monetary Fund. 
245 1 0 |a Macrofinance Model of the Czech Economy :   |b Asset Allocation Perspective. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2012. 
300 |a 1 online resource (49 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a The paper developes a VAR macrofinance model of the Czech economy. It shows that yield misalignments from the yields implied by the macrofinance model partially determine subsequent yield changes over three to nine months. These yield misalignments tend to persist for a number of months. This persistence of the misalignments was explained by (a) the fact that the macro-economy influences asset markets only at lower frequencies, (b) the liquidity effect particularly during the times of capital inflows to Czech Republic, and (c) the fact that not all misalignments were greater than their historical one standard deviation. 
538 |a Mode of access: Internet 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2012/078 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2012/078/001.2012.issue-078-en.xml  |z IMF e-Library