Shih, R.; Giles, D. E. - In: Applied Economics 41 (2009) 10, pp. 1229-1239
We use survival models to analyse the duration of the spells associated with the interest rate used by the Bank of Canada as its monetary policy instrument. Both nonparametric and parametric models are estimated, allowing for right-censoring of the data, and time-varying covariates. We find that...