The Behavior of the Term Structure of Interest Rates in a Real Business Cycle
Language: English
Published by Forgotten Books, 2024
- Softcover
- New
Seller: Forgotten Books, London, United KingdomForgotten Books
AbeBooks seller since June 2, 2021
Condition: New
£ 13.65
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Print on Demand. This book analyzes the term structure of interest rates in a real business cycle (RBC) environment. Building on the neoclassical one-good growth model, the author employs a numerical examination to explore the term structure's behavior over an artificial economy's business cycle. The book considers the shape of the yield curve, conditional and average term structures, the information content of the yield curve, and the impact of shifts in the economy's underlying parameters. The author shows that the shape of the yield curve is cyclical, changing as the economy moves between different states. Additionally, the book examines the efficiency of the yield curve in predicting future interest rates, suggesting that forward rates may not be reliable forecasters. Lastly, the author explores how changes in the economy's structure, such as alterations in time preferences or attitudes toward risk, affect the yield curve. The book contributes to the understanding of the relationship between interest rates and the real economy, providing insights that are relevant to investors, economists, and policymakers interested in financial markets and macroeconomic phenomena. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book.…
Seller Inventory # 9781334476242_0
- Title
- The Behavior of the Term Structure of Interest Rates in a Real Business Cycle
- Author
- John B. Donaldson, Thore Johnsen
- Publisher
- Forgotten Books
- Publication year
- 2024
- Condition
- New
- Book Type
- print-on-demand item
- Binding
- Paperback
- Language
- English
- ISBN 10
- 1334476241
- ISBN 13
- 9781334476242
- Seller catalogs
- Economics
This paper follows the tradition of real business cycle (rbc) theory as initiated by Kydland and Prescott A basic premise of this line of research is the view that aggregate macroeconomic models should be evaluated primarily with regard to their ability to replicate observed empirical regularities. Thus far, attention has focused principally on the ability of this class of models to approximate, satisfactorily, the matrix of variances and covariances of macroeconomic aggregates.
About the Publisher
Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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Forgotten Books’ Classic Reprint Series utilizes the latest technology to regenerate facsimiles of historically important writings. Careful attention has been made to accurately preserve the original format of each page whilst digitally enhancing the quality of the aged text.
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Forgotten Books publishes hundreds of thousands of rare and classic books.
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
This text has been digitally restored from a historical edition. Some errors may persist, however we consider it worth publishing due to the work's historical value.
The digital edition of all books may be viewed before purchase if you request a sample.
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