Do Excess Holding-Period Returns Depend on the Composition of Outstanding Federal Debt?

Myles S Wallace and John Warner

Journal of Money, Credit and Banking, 1996, vol. 28, issue 1, 132-39

Abstract: The relationship between the composition of outstanding federal debt and the term structure of interest rates has been a much studied and debated subject. This note examines the relationship between the excess holding period returns and the composition of debt over the post-Accord period. The evidence fails to support a link between debt composition and excess holding period returns. Copyright 1996 by Ohio State University Press.

Date: 1996
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