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dc.contributor.authorFountas, Stilianosen
dc.date.accessioned2010-11-10T11:34:42Zen
dc.date.available2010-11-10T11:34:42Zen
dc.date.issued1998-01en
dc.identifier.citationFountas, 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.urihttp://hdl.handle.net/10379/1376en
dc.description.abstractWe 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.formatapplication/pdfen
dc.language.isoenen
dc.publisherNational University of Ireland, Galwayen
dc.relation.ispartofseriesEconomics working papers;024en
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 Ireland
dc.rights.urihttps://creativecommons.org/licenses/by-nc-nd/3.0/ie/
dc.subjectEconomicsen
dc.subjectReal interest parityen
dc.subjectCointegration with regime shiftsen
dc.titleTesting for real interest rate convergence in European countriesen
dc.typeWorking Paperen
dc.description.peer-reviewedpeer-revieweden
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Attribution-NonCommercial-NoDerivs 3.0 Ireland
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