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Interest Rates and Output in the Long-run
Yunus Aksoy ()
Miguel Leon-Ledesma Studies in Economics from Department of Economics, University of Kent
In this paper we argue that both statistics and economic theory-based evidence largely indicate the absence of long run relationships between the real output and the most relevant monetary indicator for the UK and the US short term interest rates. These findings are not only a full sample result, but also valid in most of the subsamples throughout the second half of the 20th century.
Keywords: information value; long term relationship; cointegration; bounds tests (search for similar items in EconPapers)
JEL-codes: E3 E4 E5 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
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Downloads: (external link) ftp://ftp.ukc.ac.uk/pub/ejr/RePEc/ukc/ukcedp/0409.pdf (application/pdf)
Related works: Working Paper: Interest rates and output in the long-run (2005) Working Paper: Interest Rates and Output in the Long Run (2004) This item may be available elsewhere in EconPapers: Search for items with the same title.
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Persistent link: http://EconPapers.repec.org/RePEc:ukc:ukcedp:0409
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