Real interest rates linkages between the
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Angelos Kanas; Georgios Tsiotas
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Article
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2005
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John Wiley and Sons
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English
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This paper addresses the issue of real interest rate linkages between the UK and the USA during the postwar period. We use a bivariate Markov switching vector error correction model, which accounts for both the regime switches in the real interest rates and their long-run cointegration properties ov