Aksoy, Yunus and Leon-Ledesma, M. (2005) Interest rates and output in the long run. Working Paper. European Central Bank.
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Aksoy&Leon-Ledesma[ECB_2005].pdf - Published Version of Record Download (1MB) |
Official URL: https://www.ecb.europa.eu//pub/pdf/scpwps/ecbwp434...
Link to Research Data: https://www.ecb.europa.eu//pub/pdf/scpwps/ecbwp434.pdf
Abstract
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 U.K. and the U.S, short term interest rates. These findings are not only a full sample result, but also valid in most of the sub-samples throughout the second half of the 20th century and are robust to the inclusion of possible omitted real variables.
Metadata
| Item Type: | Monograph (Working Paper) |
|---|---|
| School: | Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School |
| Research Centres and Institutes: | Applied Macroeconomics, Birkbeck Centre for |
| Depositing User: | Yunus Aksoy |
| Date Deposited: | 23 May 2025 15:48 |
| Last Modified: | 12 Jul 2025 08:59 |
| URI: | https://eprints.bbk.ac.uk/id/eprint/55628 |
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