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Secondary Capital Markets, Long-Run Growth, and the Term Structure of Asset Yields

✍ Scribed by Valerie R. Bencivenga; Bruce D. Smith; Ross M. Starr

Book ID
108563753
Publisher
John Wiley and Sons
Year
2000
Tongue
English
Weight
219 KB
Volume
41
Category
Article
ISSN
0020-6598

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A re-examination of the rational expecta
A re-examination of the rational expectations hypothesis of the term structure: reconciling the evidence from long-run and short-run tests
✍ Elias Tzavalis; Michael Wickens πŸ“‚ Article πŸ“… 1998 πŸ› John Wiley and Sons 🌐 English βš– 183 KB πŸ‘ 3 views

This paper explains the contradictory findings from long-run and short-run tests of the rational expectations hypothesis of the term structure. Recent research suggests that, while the long-run tests support the theory, the short-run tests do not. Our results which are based on US Treasury bills rat