G. Goisis - Tassi di cambio e tassi di interesse: circuiti virtuosi e viziosi

Gianandrea Goisis

Economia Internazionale / International Economics, 1998, vol. 51, issue 3, 339-347

Abstract: Exchange rates and interest rates: virtuous and vicious connections The aim of this paper is to investigate the strong statistical connection between the Italian exchange and interest rates during the period 1994-1996. In fact, changes in the appreciation of the Italian lira against the currencies of the main foreign countries (and the expectations of this phenomenon) appear to have heavily influenced Italian short and long-term interest rates. Of course, the interest level reacts through the deficit to exchange rates expectations resulting in reverse causation. The empirical estimates seem to confirm the hypothesis of interdependence between the variables suggesting a more integrated economic policy.

JEL-codes: E42 (search for similar items in EconPapers)
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:ris:ecoint:0296

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