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Convergence of real capital market interest rates - evidence from inflation indexed bonds

This paper investigates the convergence of long-term ex ante real interest rates (RIRs) obtained from Canadian, French, UK, and U.S. inflation indexed government bonds. In contrast to previous research, our evidence suggests full convergence in the long run and, hence, capital market integration. For the same sample period, global convergence is rejected for RIRs measured in conventional terms. From these results, we conclude that previous tests of the long-run real interest rate parity might have suffered from weak measurement of real capital market interest rates. .Printed journal

Ketersediaan

Call NumberLocationAvailable
JMCB4307PSB lt.dasar - Pascasarjana1
Penerbit The Ohio State University.,
Edisi -
Subjek Capital markets
Interest rates
Government bonds
Indexes
studies
Interest rate parity theorem
ISBN/ISSN 222879
Klasifikasi -
Deskripsi Fisik -
Info Detail Spesifik -
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