Changes in the relationship between short-term interest rate, inflation and growth: evidence from the UK, 1820–2014
This paper examines the dynamic relationship between interest rates, inflation and economic growth using a long dataset for the UK. The approach adopted enables us to identify structural breaks in the dynamic system (vector autoregression (VAR)). We find interest rates respond much more strongly to...
Main Authors: | , , |
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Format: | Article |
Language: | English |
Published: |
Blackwell Publishing Ltd
2019
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Subjects: | |
Online Access: | View Fulltext in Publisher |