Interest rates and output in the long-run

Yunus Aksoy; Miguel A. León-Ledesma

In this paper we argue that both statistics and economic theory-based evidence largely indicate the absence of long run relationships between the real output and the most relevant monetary indicator for the U.K. and the U.S short term interest rates. These findings are not only a full sample result, but also valid in most of the subsamples throughout the second half of the 20th century. -- information value ; long term relationship ; cointegration ; bounds tests

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Year of publication:	Sept. 2004 ; [Elektronische Ressource]
Other Persons:	Aksoy, Yunus (contributor) ; León-Ledesma, Miguel A. (contributor)
Institutions:	University of Kent / Department of Economics (contributor)
Publisher:	Canterbury : Univ. of Kent, Dep. of Economics
Subject:	Informationswert \| Information value \| Zins \| Interest rate \| Großbritannien \| United Kingdom \| USA \| United States \| Korrelation \| Correlation