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The purpose of this paper is to test the (rational) expectations hypothesis of the term structure of interest rates using Portuguese data for the interbank money market. The results obtained support only a very weak, long-run or "asymptotic" version of the hypothesis, and broadly agree with...
Persistent link: https://www.econbiz.de/10005616562
Portugal. We lean on evidence that the maintenance of low competition in these markets may have contributed to the recent poor …
Persistent link: https://www.econbiz.de/10005619679
The purpose of this paper is to test the (rational) expectations hypothesis of the term structure of interest rates using Portuguese data for the interbank money market. The results obtained support only a very weak, long-run or "asymptotic" version of the hypothesis, and broadly agree with...
Persistent link: https://www.econbiz.de/10005837523