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The International Linkage of Real Interest Rates : the European - U.S. Connection

Cumby, Robert; Mishkin, Frederic S. - 2021

rates has been widespread in the analyses by economic policymakers both in Europe and in the United States. In this paper we … been raised by the recent policy debates in Europe and the United States: Have ex ante real rates in the United States and … Europe been high during recent years? Has there been a link between U.S. real rates and those in other countries? Can this …

Persistent link: https://www.econbiz.de/10013313673

Sources of Convergence in the Late Nineteenth Century

Taylor, Alan M. - 2021

Although the empirical growth literature has yielded many findings on postwar convergence patterns, it has had little to say about the determinants of convergence in earlier epochs. This paper investigates convergence for group of seven countries during the period 1870-1914, the last great phase...

Persistent link: https://www.econbiz.de/10013228017

Economic Integration and Convergence : U.S. Regions, 1840-1987

Kim, Sukkoo - 2021

Despite the recent inroads made by models of interregional trade based on external" economies, the analysis of the long-run trends in U.S. regional specialization in agriculture manufacturing, wholesale trade, retail trade, services, and all economic activities indicate that" these trends are...

Persistent link: https://www.econbiz.de/10013231563

A Multi-Country Comparison of Term Structure Forecasts at Long Horizons

Mishkin, Frederic S.; Jorion, Philippe - 2021

besides the United states, using a newly constructed data set for 1 to 5 year interest rates from Britain, West Germany and …

Persistent link: https://www.econbiz.de/10013234377

Simulated Likelihood Estimation of Diffusions with an Application to Exchange Rate Dynamics in Incomplete Markets

Santa-Clara, Pedro; Brandt, Michael W. - 2021

We present an econometric method for estimating the parameters of a diffusion model from discretely sampled data. The estimator is transparent, adaptive, and inherits the asymptotic properties of the generally unattainable maximum likelihood estimator. We use this method to estimate a new...

Persistent link: https://www.econbiz.de/10013235636

Regime Switches in Interest Rates

Bekaert, Geert - 2008

econometric performance of regime-switching models for interest rate data from the US, Germany and the UK. There is strong …

Persistent link: https://www.econbiz.de/10012774902

Low Interest Rates, Policy, and the Predictive Content of the Yield Curve

Bordo, Michael D.; Haubrich, Joseph Gerard - 2022

historical data going back to the 19th century for the US and more recent data for the UK, Germany, and Japan. This paper is …

Persistent link: https://www.econbiz.de/10013299169

Work and Leisure in the U.S. And Europe : Why so Different?

Alesina, Alberto; Glaeser, Edward L.; Sacerdote, Bruce - 2021

the U.S. and Europe. Another popular view is that these differences are explained by long-standing European "culture," but … the U.S. and Europe. These policies do not seem to have increased employment, but they may have had a more society …

Persistent link: https://www.econbiz.de/10013231444

Monetary Policy and Performance in the U.S., Japan and Europe, 1973-86

Fischer, Stanley - 2007

Monetary policies in the U.S., Japan, Germany and the United Kingdom over the period 1973-1986 are compared and …. The most striking contrast in the outcomes of policy is between Japan and Germany in the second oil shock. Both their … wage increase in Germany increased, and was followed by a serious recession. The cause of the difference in results appears …

Persistent link: https://www.econbiz.de/10012777224

Global Trends in Interest Rates

Del Negro, Marco - 2018

The trend in the world real interest rate for safe and liquid assets fluctuated close to 2 percent for more than a century, but has dropped significantly over the past three decades. This decline has been common among advanced economies, as trends in real interest rates across countries have...

Persistent link: https://www.econbiz.de/10012911094