English, Article edition: MONETARY POLICY AND LONG-TERM INTEREST RATES: A SURVEY OF EMPIRICAL LITERATURE M. A. Akhtar

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Bookmark: http://trove.nla.gov.au/version/185134
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  • article
Language
  • English

Edition details

Title
  • MONETARY POLICY AND LONG-TERM INTEREST RATES: A SURVEY OF EMPIRICAL LITERATURE
Author
  • M. A. Akhtar
Physical Description
  • article
Notes
  • This paper surveys recent empirical literature on effects of monetary policy on long-term interest rates. Most studies reviewed here suggest that tightening monetary policy results in higher long-term interest rates. But available evidence suffers from conceptual and empirical problems and fails to indicate the magnitude of short-run and long-run policy effects on long rates. Also, recent studies have not investigated the possibility of shifts in recent-year effects of monetary policy on long rates. Finally, the paper offers a policy perspective on limitations of existing evidence and suggests future research on monetary policy effects on long rates. Copyright 1995 Western Economic Association International.
  • RePEc:bla:coecpo:v:13:y:1995:i:3:p:110-130
Language
  • English
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