If the cb chooses not to set the rate to zero and doesn’t wish to pay IOR, then the quantity of excess reserves has be to kept in line with the reserve requirement if the system is to clear within the range of the policy rate that the cb sets, e.g., between the discount rate ...
Fama and Schwert (1977) and Ang and Bekaert (2007) argue that interest rate is a strong predictor of future returns. The data on short-term rates are limited, so for better coverage we use yields on ten-year bonds (YLD) sourced from GFD.4 Finally, it may be theoretically possible that...
3.4 Validating the proxies We now want to check that the time series selected above, essentially based on spot data on 10 year government bonds, indices and commodities, yield results that are very similar to the ones we obtained with futures. This will validate our proxies and allow us to ...
Below you are presented with hypothetical stock prices for two different stocks over a ten-year period. |Year | Stock Price A |Stock Price B |1 |$100 | $65 |2 | $112 |$70 |3 |$118 | $79 |4 |$106 |$83 |5 | $110...
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For the momment I just see an increae in real interest rate for both treasury bonds and Baa coprpotares. See “hard to explain as QE” in http://cuadernodearenacom.blogspot.com/2011/02/hard-to-explain-as-quatitative-easing.html ...
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