Using a number of long-term maturities and monthly data, 1989-1997, we provide a number of tests of the expectations hypothesis (EH) of the term structure. The main insight in this paper is the use of the excess holding period return to provide a proxy for a possible time varying term premium....

Using Irish money market rates (spot rates) with a term to maturity of 1, 3, and 6 months and monthly data, 1984-1997, we provide a number of tests of the expectations hypothesis (EH) of the term structure. The paper draws on co-integration techniques and the methodological approach of Campbell...

Since the break up of the Czech-Slovak Federation on 31 December 1992, the Czech Republic has been at the forefront of the transition to a market economy. Key aims of the Czech Republic, and many other former centrally planned economies (FCPE), is low inflation and a stable exchange rate,...