This paper develops and estimates an equilibrium model of the term structures of nominal and real interest rates. The term structures are driven by state variables that include the short term real interest rate, expected inflation, a factor that models the changing level to which inflation is...

Remarks before the Center for the Study of American Business, Washington University, St. Louis - July 29, 1999

Presentation to the Midwest Economic Education Conference, St. Louis - April 11, 2002

This paper develops a model of the term structures of nominal and real interest rates driven by state variables representing the short-term real interest rate, expected inflation, inflation’s central tendency, and four volatility factors that follow GARCH processes. We derive analytical...

Presentation to the Midwest Economic Education Conference, St. Louis - April 11, 2002

Remarks before the Center for the Study of American Business, Washington University, St. Louis - July 29, 1999