nominal interest amp inflation rates 1960 2013

The Zero Bound on Nominal Interest Rates: Implications for Monetary Policy potx

The Zero Bound on Nominal Interest Rates: Implications for Monetary Policy potx

Ngày tải lên : 29/03/2014, 01:20
... and the Zero Bound on Nominal Interest Rates. ” Federal Reserve Bank of Richmond Economic Quarterly 84: 1–22 —— 2005 “Real Implications of the Zero Bound on Nominal Interest Rates. ” Journal of Money, ... the real interest rate This relationship is summarized by the Fisher identity: The real interest rate is equal to the nominal interest rate minus the expected inflation rate: Real Rate = Nominal ... negative nominal return In practice, therefore, the lower bound on nominal interest rates is typically very close to zero,3 and this bound may prevent a central bank from reducing the real interest...
  • 8
  • 384
  • 0
  1. Tài Chính - Ngân Hàng
  2. Ngân hàng - Tín dụng
oil shocks and the zero bound on nominal interest rates pot

oil shocks and the zero bound on nominal interest rates pot

Ngày tải lên : 01/04/2014, 15:20
  • 47
  • 247
  • 0
  1. Kỹ Thuật - Công Nghệ
  2. Cơ khí - Chế tạo máy
Tài liệu Public attitudes to inflation and interest rates docx

Tài liệu Public attitudes to inflation and interest rates docx

Ngày tải lên : 15/02/2014, 05:20
... expectations of interest rates and inflation Interest rate perceptions, expectations and movements in retail rates Question of the Bank/GfK NOP survey asks respondents ‘how would you say interest rates ... attitudes to inflation and interest rates One hypothesis is that if people expect interest rates to be higher, they might have lower inflation expectations Alternatively, if people have higher inflation ... made, either to raise interest rates to try to keep inflation down; or keep interest rates down and allow prices in the shops to rise faster, which would you prefer:(a) Interest rates to rise 62 57...
  • 16
  • 414
  • 0
  1. Tài Chính - Ngân Hàng
  2. Ngân hàng - Tín dụng
Tài liệu Public attitudes to inflation and interest rates doc

Tài liệu Public attitudes to inflation and interest rates doc

Ngày tải lên : 15/02/2014, 05:20
... equivalent annual inflation rates Research and analysis Public attitudes to inflation and interest rates Chart Explaining Bank/GfK NOP perceptions with three-monthly inflation rates Per cent 153 ... to inflation and interest rates The second section summarises the public’s attitudes to interest rates and the conduct of monetary policy 149 Chart Bank/GfK NOP median perceptions of current inflation ... prices Attitudes to interest rates The Bank/GfK NOP survey assesses the extent to which households are aware of changes in interest rates, by asking ‘how would you say interest rates on things such...
  • 9
  • 457
  • 0
  1. Tài Chính - Ngân Hàng
  2. Ngân hàng - Tín dụng
Forecasting UK GDP growth, inflation and interest rates under structural change: a comparison of models with time-varying parameters potx

Forecasting UK GDP growth, inflation and interest rates under structural change: a comparison of models with time-varying parameters potx

Ngày tải lên : 06/03/2014, 14:20
... data on real activity, inflation, money supply, interest rates and exchange rates This data set is chosen as it is consistently available over the sample period used in our forecasting exercise ... inflation and the short-term interest rate This paper attempts to fill this gap by comparing the performance of a wide variety of time-varying parameter models in forecasting output growth, inflation ... recursive data samples) computational efficiency is vital in our exercise The model is estimated using a Gibbs sampling algorithm This algorithm is an extended version of the sampler used for...
  • 56
  • 469
  • 1
  1. Tài Chính - Ngân Hàng
  2. Ngân hàng - Tín dụng
WORKING PAPER SERIES NO 756 / MAY 2007: MAINTAINING LOW INFLATION MONEY, INTEREST RATES, AND POLICY STANCE docx

WORKING PAPER SERIES NO 756 / MAY 2007: MAINTAINING LOW INFLATION MONEY, INTEREST RATES, AND POLICY STANCE docx

Ngày tải lên : 22/03/2014, 23:20
... production function approach (SNB) for Switzerland Interest rates are 3-month rates All series except interest rates are seasonally adjusted The samples considered, chosen according to availability ... Introduction Empirical weakness of interest rate rules and stance measures 2.1 Interest rate stance and inflation objective 2.2 Implicit vs realized inflation and equilibrium interest rate assumption 2.3 ... equilibrium interest rates, which can be approximated by a backward-looking filter, to account for the fact that people hold relatively more real money balances when inflation and interest rates decrease,...
  • 72
  • 352
  • 0
  1. Tài Chính - Ngân Hàng
  2. Ngân hàng - Tín dụng
Lecture no10 nominal and effective interest rates

Lecture no10 nominal and effective interest rates

Ngày tải lên : 18/12/2017, 15:23
... much interest would you earn? Copyright © 2016 by Pearson Education, Inc All Rights Reserved Effective Annual Interest Rate (Yield) • Formula • Example • 18% compounded monthly r = nominal interest ... 2016 by Pearson Education, Inc All Rights Reserved Nominal and Effective Interest Rates with Different Compounding Periods Effective Rates Nominal Rate Compounding Annually Compounding Semi-annually ... CK    C = number of interest periods per payment period  K = number of payment periods per year  CK = total number of interest periods per year, or M  r/K = nominal interest rate per payment...
  • 18
  • 135
  • 0
  1. Thể loại khác
  2. Tài liệu khác
The relationship between default risk and interest rates: An empirical study research insight

The relationship between default risk and interest rates: An empirical study research insight

Ngày tải lên : 26/10/2012, 11:21
... changes in interest rates and default rates, with the correlations between changes in short rates and default rates being significantly negative When interest rates decrease, default rates increase ... in Table 4, the correlation default rates and changes in interest rates is more negative at shorter interest rates terms Decreases in shorter term interest rates would imply increases in slope; ... rate and nominal interest rates, a moderate positive correlation between default rates and real interest rate, and a strong positive correlation between default rate and lagged 2-year real interest...
  • 17
  • 736
  • 0
  1. Tài Chính - Ngân Hàng
  2. Tài chính doanh nghiệp
Tài liệu Pricing Stock Options Under Stochastic Volatility And Interest Rates With Efficient Method Of Moments Estimati ppt

Tài liệu Pricing Stock Options Under Stochastic Volatility And Interest Rates With Efficient Method Of Moments Estimati ppt

Ngày tải lên : 21/12/2013, 01:20
... with logarithmic interest rates so that the nominal interest rates are restricted to be positive, as negative nominal interest rates are ruled out by a simple arbitrage argument The interest rate ... systematic volatility risk) with stochastic interest rates; (ii) the SV model of stock returns with non-stochastic risk-free interest rates; (iii) the stochastic interest rate model with constant conditional ... impact of stochastic interest rates on option prices (see e.g Rabinovitch, 1989); Third, the above proposed model allows the study of the simultaneous effects of stochastic interest rates and stochastic...
  • 48
  • 707
  • 0
  1. Tài Chính - Ngân Hàng
  2. Đầu tư Chứng khoán
understanding interest rates

understanding interest rates

Ngày tải lên : 05/01/2014, 16:55
... is no interest- rate risk for any bond whose time to maturity matches the holding period Real and Nominal Interest Rates • Nominal interest rate makes no allowance for inflation • Real interest ... • Even if a bond has a substantial initial interest rate, its return can be negative if interest rates rise Rate of Return and Interest Rates III Interest- Rate Risk • Prices and returns for ... = real interest rate πe = expected inflation rate When the real interest rate is low, there are greater incentives to borrow Low interest rates reduces the incentives to lend The real interest...
  • 23
  • 2.5K
  • 1
  1. Cao đẳng - Đại học
  2. Đại cương
the behaviour of interest rates

the behaviour of interest rates

Ngày tải lên : 05/01/2014, 16:56
... increase in the equilibrium interest rate Response to a Business Cycle Expansion II Business Cycles and Interest Rates Business cycle expansions lead to increased interest rates Response to a Lower ... money supply is a rise in interest rates in response to the rise in the price level • The expected -inflation effect of an increase in the money supply is a rise in interest rates in response to the ... in interest rates in response to the rise in the expected inflation rate Money Supply and Interest Rates II Money Growth and Interest Rates ...
  • 31
  • 2.5K
  • 1
  1. Cao đẳng - Đại học
  2. Đại cương
the risk and term structure of interest rates

the risk and term structure of interest rates

Ngày tải lên : 05/01/2014, 16:56
... Term Structure of Interest Rates • The risk structure of interest rates looks at bonds with the same term to maturity and different interest rates • The term structure of interest rates looks at ... short-term rates – Flat long-term rates are above short- and long-term rates are the same – Inverted long-term rates are below short-term rates Empirical Facts To Be Explained by the Term Structure Interest ... three facts Term Structure of Interest Rates – Fact Expectations Theory • The interest rate on a long-term bond will equal an average of the short-term interest rates that people expect to occur...
  • 28
  • 2.5K
  • 1
  1. Cao đẳng - Đại học
  2. Đại cương
Tài liệu SURVEY ON HOW COMMERCIAL BANKS DETERMINE LENDING INTEREST RATES IN ZAMBIA docx

Tài liệu SURVEY ON HOW COMMERCIAL BANKS DETERMINE LENDING INTEREST RATES IN ZAMBIA docx

Ngày tải lên : 15/02/2014, 05:20
... i.e., inflation, exchange rates and Treasury bills, in determining lending rates That is, other things equal, it is expected that when inflation or Treasury bill rates are low, lending rates ... administer its inflation targeting regime Inflation and Lending Rates 3.8 Despite the survey results showing that only half of the banks used inflation in determining the base lending rates, our ... rates, qualitative factors used widely in the rate determination process may dampen the intended effect of a policy decision For example, a policy rate adjustment intended to lower interest rates...
  • 19
  • 421
  • 0
  1. Tài Chính - Ngân Hàng
  2. Ngân hàng - Tín dụng
Tài liệu The importance of interest rates for forecasting the exchange rate doc

Tài liệu The importance of interest rates for forecasting the exchange rate doc

Ngày tải lên : 15/02/2014, 05:20
... proxy for the annual interest rate, we therefore need to multiply the quarterly interest rate by four Hence, if we had used an annual interest rate, the coefficient for the interest rate difference ... captured through the movements in interest rates, since they reflect expectations of future purchasing power Hence, massive movements in capital flows in response to interest rate differentials can ... expected depreciation rate from period t to t+1, it is the domestic interest rate and it* is the foreign interest rate Hence, an interest rate differential at time t, will then lead to an expected...
  • 21
  • 562
  • 0
  1. Tài Chính - Ngân Hàng
  2. Ngân hàng - Tín dụng
Tài liệu Deposit Insurance, Institutions and Bank Interest Rates pptx

Tài liệu Deposit Insurance, Institutions and Bank Interest Rates pptx

Ngày tải lên : 15/02/2014, 05:20
... lending and deposit interest rates, and the bank interest rate spread which may be viewed as either an indicator of market power or of profitability in this financial segment Deposit rates can be affected ... insurance affects international bank lending borrowing spreads and interest rates Deposit insurance, institutions and bank interest rates: data and hypothesis to test 4.1 Data We collect data on ... by relying on the full reimbursement of their deposits’ nominal value, they have no interest in choosing a specific bank, nor are they interested in monitoring banks.5 This moral hazard problem...
  • 23
  • 447
  • 0
  1. Tài Chính - Ngân Hàng
  2. Ngân hàng - Tín dụng
Tài liệu Interest Rates for Savings and Bank Accounts. docx

Tài liệu Interest Rates for Savings and Bank Accounts. docx

Ngày tải lên : 15/02/2014, 05:20
... adult account Rates are fixed For information on the interest rates payable on these accounts please visit: www.personal.barclays.co.uk Barclays Bank PLC Current Interest Rates Rates for accounts ... Equivalent Rate % Rates effective from 10 December 2008 €2,000+ 0.10 0.08 0.10 Sterling (£) rates Rates effective from 11 December 2008 Rates are fixed US dollar ($) rates Rates effective from ... of interest on the balance in excess of £600,000 Interest is paid quarterly If you withdraw money you will forfeit 30 days interest on the remaining balance Rates effective from 12 March 2009 Rates...
  • 15
  • 487
  • 0
  1. Tài Chính - Ngân Hàng
  2. Ngân hàng - Tín dụng
Tài liệu Inferring market interest rate expectations from money market rates pdf

Tài liệu Inferring market interest rate expectations from money market rates pdf

Ngày tải lên : 15/02/2014, 05:20
... of interest rates would change until the implicit forward rates equalled expectations of future rates Future interest rates are, of course, not known with certainty Nevertheless, if forward rates ... of future interest rates then forward rates would equal expected future interest rates If this were not the case it would be possible to make unlimited riskless profits Suppose, for example, that ... 2000 Forward rates, the expectations hypothesis and term premia Forward rates are the interest rates for future periods that are implicitly incorporated within today’s interest rates for loans...
  • 11
  • 469
  • 2
  1. Tài Chính - Ngân Hàng
  2. Ngân hàng - Tín dụng
Tài liệu Money and Interest Rates docx

Tài liệu Money and Interest Rates docx

Ngày tải lên : 15/02/2014, 06:20
... countries that have low rates of money growth tend to have low nominal interest rates and countries with high rates of money growth tend to have high nominal interest rates The high correlations ... how much nominal interest rates increase for each percentage point increase in money growth? To answer that, we regressed nominal interest rates on money growth for each interest rate sample as ... and interest rates are positively related: increasing interest rates requires an increase in the rate of money growth The Fisher equation states that the nominal interest rate equals the real interest...
  • 12
  • 451
  • 0
  1. Tài Chính - Ngân Hàng
  2. Ngân hàng - Tín dụng
Tài liệu Norges Bank’s system for managing interest rates docx

Tài liệu Norges Bank’s system for managing interest rates docx

Ngày tải lên : 15/02/2014, 06:20
... are cleared at an interest rate slightly higher than the deposit rate Liquidity policy in other countries European Central Bank Norges Bank’s Executive Board sets the interest rates on the Bank’s ... deposit and lending facilities, which normally form a corridor for the shortest moneymarket rates Interest rates on Norges Bank’s fixed-rate loans and deposits are normally established in the market ... 2000, the interest rate on repurchase agreements has been fixed through multi-price auctions, with a minimum interest rate This minimum rate is now the ECB’s key rate The deposit and lending rates...
  • 6
  • 399
  • 0
  1. Tài Chính - Ngân Hàng
  2. Ngân hàng - Tín dụng
Tài liệu An Empirical Decomposition of Risk and Liquidity in Nominal and Inflation- Indexed Government Bonds pptx

Tài liệu An Empirical Decomposition of Risk and Liquidity in Nominal and Inflation- Indexed Government Bonds pptx

Ngày tải lên : 16/02/2014, 02:20
... liquidity-adjusted nominal and inflation-indexed bond excess returns Our approach contrasts with the approach of D’Amico, Kim and Wei (2008), who model nominal and real interest rates using a tightly ... significant correlation between the relative supply of nominal Treasury bonds at different maturities and the behavior of nominal interest rates Arguably the inflation-indexed bond market is a natural ... of nominal government bonds, but not inflation-indexed government bonds, also vary with expected inflation, so that inflation risk will impact their risk premia (Campbell and Viceira 2001) Campbell,...
  • 41
  • 556
  • 1
  1. Tài Chính - Ngân Hàng
  2. Ngân hàng - Tín dụng

Xem thêm

Tìm thêm: