Akram, Tanweer; Das, Anupam - 2019
. Keynes held that the short-term interest rate is the main driver of the long-term interest rate. In this paper, the daily … changes in long-term Treasury security yields are empirically modeled as a function of the daily changes in the short-term … Keynesian perspective. The empirical findings of this paper support Keynes's view by showing that the daily changes in the short-term …