Money Growth Variability and the Term Structure of Interest in Japan

G-J Lynch and Bradley Ewing

Working Papers from Purdue University, Krannert School of Management - Center for International Business Education and Research (CIBER)

Abstract: The hypothesis of this paper is that uncertain money growth leads to an increased yield spread between short term and long term interest rates. Since current inflation is obviously the same at any given time, the change in the term structure can be explained, in part, by the greater degree of uncertainty in the long term caused by monetary uncertainty.

Keywords: JAPAN; INTEREST RATE; INFLATION (search for similar items in EconPapers)
JEL-codes: E31 E43 (search for similar items in EconPapers)
Pages: 17 pages
Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:fth:purkib:95-005

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