examines whether the month-over-month change in the short-term interest rate has a decisive influence on the long-term swap … short-term interest rate has an economically meaningful and statistically significant effect on the change of the interbank …

John Maynard Keynes (1930) asserted that the central bank sways the long-term interest rate through the influence of … its policy rate on the short-term interest rate. Recent empirical research shows that Keynes's conjecture holds for long …

This paper models the dynamics of Chinese yuan (CNY)-denominated long-term interest rate swap yields. The financial …, interest rate swaps are likely to have an important role in the Chinese financial system. This paper shows that the short …-term interest rate exerts a decisive influence on the long-term swap yield after controlling for various macrofinancial variables …

John Maynard Keynes argued that the central bank influences the long-term interest rate through the effect of its … policy rate on the short-term interest rate. However, Keynes's claim was confined to the behavior of the long-term government …-the-counter financial derivatives by econometrically modeling the dynamics of the pound sterling-denominated longterm interest rate swap …