Monetary Policy, Segmentation, and the Term Structure
收藏数据链接:
官方服务:
资源简介:
We develop a segmented markets model which rationalizes the effects of monetary policy on the term structure of interest rates. When arbitrageurs portfolio features positive duration, an unexpected rise in the short rate lowers their wealth and raises term premia. A calibration to the U.S. economy
提供机构:
美国国家经济研究局创建时间:
2024-04-01



