Moosa, Imad A; Bhatti, Razzaque H - In: Scottish Journal of Political Economy 43 (1996) 2, pp. 177-91
Ex ante real interest rates and their differentials are tested for mean reversion using quarterly data on three-month treasury bill rates and consumer prices for twelve major industrial countries over the period 1972:1-1993:3. The results are strongly supportive of mean reversion, particularly...