Long-Term Rates, Short-Term Rates and Future Economic Activity  

Oleh:

Laurent, Robert D.

Jenis: Article from Bulletin/Magazine
Dalam koleksi: BUSINESS ECONOMICS vol. 32 no. 2 (1997), page 32-40.
Topik: ECONOMIC; long - term; short - term; rates; economic activity

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: BB20.3 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This paper examines the relationship between interest rates and future economic activity. It argues that the widely held view positing an inverse relationship between long - term interest rates and future economic activity as the primary channel of influence has both conceptual and empirical problems. The evidence is that short - term rates are more important, and that, when the influence of these rates is taken into account, long - term rates are actually positively related to future economic activity. This view gives a more cogent interpretation to a number of recent policy issues.

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