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This paper analyzes the nominal yields of UK gilt-edged securities ("gilts") based on a Keynesian perspective, which holds that the short-term interest rate is the primary driver of the long-term interest rate. Quarterly data are used to model gilts' nominal yields. These models bring to light...
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Equilibrium bond-pricing models rely on inflation being bad news for future growth to generate upward-sloping nominal … growth evolve over time under the true distribution, and this difference makes excess returns on long-term bonds predictable …
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sovereign yield curves, in this paper, we investigate certain characteristics of the Romanian government bond market. We perform …
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