지원사업
학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
커뮤니티
연구자들이 자신의 연구와 전문성을 널리 알리고, 새로운 협력의 기회를 만들 수 있는 네트워킹 공간이에요.
초록· 키워드
오류제보하기
Empirical relations between the inter-bank overnight call rate and long-term interest rates, including 5 year government bond rates, and 3 year AA- corporate bond yields are examined by using the vector error correction modeling and cointegration techniques. The findings from the empirical analysis support the interest rate channel of monetary transmission mechanism through financial markets like the U.S case analysis of Atesoglu (2005). However, even though there are empirically stable long-run relations between the inter-bank overnight call rate and long-term interest rates, we could find the mixed results for causality. The author finds a bi-directional causality runs between CR (inter-bank overnight call rate)and GBR (government bond rate) and a unidirectional causality runs from CR to CBR (corporate bond yield).
목차
등록된 정보가 없습니다.
참고문헌 (24)
참고문헌 신청
Allsopp, C / 2000 / The Assessment: Macroeconomic Policy / Oxford Review of Economic Policy 16 (4)
Atesoglu, H. S. / 2003 / Monetary transmission-federal funds rate and prime rate / Journal of Post Keynesian Economics 26 (2)
Atesoglu, H. S. / 2005 / Monetary policy and long-term interest rates / Journal of Post Keynesian Economics 27 (3)
Bank of Korea / 2008 / Monetry Policy in Korea
Brailsford, T. J. / 2006 / The Equivalence of Causality Detection in VAR and VECM Modeling with Application to Exchange Rates / Multinational Finance Journal 10 (3)
Atesoglu, H. S. / 2003 / Monetary transmission-federal funds rate and prime rate / Journal of Post Keynesian Economics 26 (2)
Atesoglu, H. S. / 2005 / Monetary policy and long-term interest rates / Journal of Post Keynesian Economics 27 (3)
Bank of Korea / 2008 / Monetry Policy in Korea
Brailsford, T. J. / 2006 / The Equivalence of Causality Detection in VAR and VECM Modeling with Application to Exchange Rates / Multinational Finance Journal 10 (3)
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