Interest Rates and Output in the Long-run

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 UK and the US 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.

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Year of publication:	2004-09
Authors:	Aksoy, Yunus ; León-Ledesma, Miguel
Institutions:	School of Economics, University of Kent
Subject:	information value \| long term relationship \| cointegration \| bounds tests

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Extent:	application/pdf
Series:	Studies in Economics. - ISSN 1466-0814.
Type of publication:	Book / Working Paper
Language:	English
Classification:	E3 - Prices, Business Fluctuations, and Cycles ; E4 - Money and Interest Rates ; E5 - Monetary Policy, Central Banking and the Supply of Money and Credit
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005404339