The paper adopts a choice-theoretic, information-oriented approach to the issue of stationarity of real interest rates. It is shown that a constant real rate of interest, even for short run and within the context of a simple two-market framework, requires overly demanding assumptions which are...

Analisi del rapporto empirico tra le variazioni della massa monetaria misurata da M1 e i tassi di interesse nominali per il periodo 1959-1983 negli Usa. L’esame della regressione, basata su dati detrendizzati e su procedure di prefiltraggio del tipo Box-Jenkins, viene fatto per valutare le...

The relationship between nominal interest rates and price movements is examined using three alternative Granger causality detection techniques. The statistical advantage of the techniques is that they rely directly on the data and do not assume a priori models or hypotheses. The techniques...

The purpose of the paper is to find out if the pricing of international loans can be explained by the Capital Asset Pricing Model. An empirical test that includes a set of 33 developing countries during the period 1971-1984 is undertaken. The data also permits a calculation of expected returns...