Wu, Tao (contributor) - 2002 - [Elektronische Ressource]
interest rates and macroeconomic activity are closely related. Bond-
traders and financial analysts often cite monetary policy ….
In summary, a contractionary monetary policy shock has large but short-lived effects on
short-term bond rates, with … contractionary monetary policy shocks will have a negative excess return of
4% (annualized, over 1-month real bond), and if the real …