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What Calls to ARMs? International Evidence on Interest Rates and the Choice of Adjustable-Rate Mortgages

Badarinza, Cristian - 2014

The relative popularity of adjustable-rate mortgages (ARMs) and fixed-rate mort- gages (FRMs) varies considerably both across countries and over time. We ask how movements in current and expected future interest rates affect the share of ARMs in total mortgage issuance. Using a nine-country...

Persistent link: https://www.econbiz.de/10012458258

ICT Use in the Developing World : An Analysis of Differences in Computer and Internet Penetration

Chinn, Menzie D. - 2006

Computer and Internet use, especially in developing countries, has expanded rapidly in recent years. Even in light of … Internet penetration, both currently and over time, we examine panel data for 161 countries over the 1999-2004 period. We … factors associated with computer and Internet penetration do not differ substantially between developed and developing …

Persistent link: https://www.econbiz.de/10012466283

The Determinants of the Global Digital Divide : A Cross-Country Analysis of Computer and Internet Penetration

Chinn, Menzie D. - 2004

To identify the determinants of cross-country disparities in personal computer and Internet penetration, we examine a … significant in most specifications for computer use. A similar pattern holds true for Internet use, except that telephone density … differentials. For computers, telephone density and regulatory quality are of second and third importance, while for the Internet …

Persistent link: https://www.econbiz.de/10012468005

Monetary Policy in Japan, Germany and the United States : Does One Size Fit All?

Chinn, Menzie D. - 1997

We study the post-war evidence for Japan to see if the same specification for both the economy and the monetary policy rule is useful for understanding Japan's economy and monetary policy. A recurrent theme in the literature on Japanese monetary policy is that there are significant differences...

Persistent link: https://www.econbiz.de/10012472722

Fin de Siecle Real Interest Parity

Fujii, Eiji - 2000

We evaluate the recent evidence for real interest parity, focusing on long-term yields. Examining the data on financial instruments of various maturities across the G7 countries, we find substantial differences in the degree of real interest equalization measured at different horizons. In...

Persistent link: https://www.econbiz.de/10012470857

How Do UK-Based Foreign Exchange Dealers Think Their Market Operates?

Cheung, Yin-Wong - 2000

This paper summarises the results of a survey of UK based foreign exchange dealers conducted in 1998. It addresses topics in three main areas: The microeconomic operation of the foreign exchange market; the beliefs of dealers regarding the importance, or otherwise, of macroeconomic fundamental...

Persistent link: https://www.econbiz.de/10012471250

Inflation, Real Interest Rates, and the Bond Market : A Study of UK Nominal and Index-Linked Government Bond Prices

Barr, David G. - 1996

nominal and index-linked bonds. The estimation method takes account of imperfections in the indexation of UK index …

Persistent link: https://www.econbiz.de/10012473007

International Experiences with Securities Transaction Taxes

Campbell, John Y. - 1993

This paper studies the international experience with securities transaction taxes (STTs), using the Swedish and British systems as case studies. We argue that STTs are best thought of as taxes on different resources used in transactions: domestic brokerage services in the case of Sweden, and...

Persistent link: https://www.econbiz.de/10012474353

Household Saving and Permanent Income in Canada and the United Kingdom

Campbell, John Y. - 1987

Recent theoretical research in open-economy macroeconomics has emphasized the connection between a country's current account and the intertemporal savings and investment choices of its households, firms, and governments. In this paper, we assess the empirical relevance of the permanent income...

Persistent link: https://www.econbiz.de/10012476846

Understanding Inflation-Indexed Bond Markets

Campbell, John Y. - 2009

This paper explores the history of inflation-indexed bond markets in the US and the UK. It documents a massive decline in long-term real interest rates from the 1990's until 2008, followed by a sudden spike in these rates during the financial crisis of 2008. Breakeven inflation rates, calculated...

Persistent link: https://www.econbiz.de/10012463635