The term structure of interest rates and inflation forecast targeting
This paper examines the implications of the expectations theory of the term structure of interest rates for the implementation of inflation targeting. We show that the responsiveness of the central bank’s instrument to the underlying state of the economy is increasing in the duration of the long-ter...
Main Authors: | Eric Schaling, Willem Verhagen, Sylvester Eiffinger |
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Format: | Article |
Language: | English |
Published: |
AOSIS
2011-08-01
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Series: | South African Journal of Economic and Management Sciences |
Online Access: | https://sajems.org/index.php/sajems/article/view/274 |
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