dc.contributor.author | Fountas, Stilianos | en |
dc.date.accessioned | 2010-11-10T11:34:42Z | en |
dc.date.available | 2010-11-10T11:34:42Z | en |
dc.date.issued | 1998-01 | en |
dc.identifier.citation | Fountas, S. (1998). "Testing for real interest rate convergence in European countries" (Working Paper No. 024) Department of Economics, National University of Ireland, Galway. | en |
dc.identifier.uri | http://hdl.handle.net/10379/1376 | en |
dc.description.abstract | We use cointegration tests that determine endogenously the regime shift to
test for bilateral short-term and long-term real interest rate convergence in
the European Monetary System in the 1979-1993 period. The results of
these tests provide strong evidence in favour of bilateral real interest rate
convergence between Germany and several countries in our sample, particularly
for long-term real interest rates. This result carries the important
policy implication that in several European countries monetary policy has
lost some of its effectiveness as a stabilisation policy tool. | en |
dc.format | application/pdf | en |
dc.language.iso | en | en |
dc.publisher | National University of Ireland, Galway | en |
dc.relation.ispartofseries | Economics working papers;024 | en |
dc.rights | Attribution-NonCommercial-NoDerivs 3.0 Ireland | |
dc.rights.uri | https://creativecommons.org/licenses/by-nc-nd/3.0/ie/ | |
dc.subject | Economics | en |
dc.subject | Real interest parity | en |
dc.subject | Cointegration with regime shifts | en |
dc.title | Testing for real interest rate convergence in European countries | en |
dc.type | Working Paper | en |
dc.description.peer-reviewed | peer-reviewed | en |
nui.item.downloads | 903 | |