Goda, Thomas; Lysandrou, Photis; Stewart, Chris - In: Journal of International Financial Markets, … 27 (2013) C, pp. 113-136
Although the federal funds rate started rising from mid-2004 US long term rates continued to fall. A likely contributory factor to this ‘conundrum’ was the contemporaneous increase in US bond demand. Using ARDL based models, which accommodate structural breaks, this paper estimates the...
