The Yield Curve and Real Activity

The Yield Curve and Real Activity
The financial press frequently suggest that the shape of yield curve reflects information about the prospects of the economy. This paper attempts to formalize the link between the yield curve and the real economic activity. A closed-form formula for the term structure of interest rates is derived. It is shown that the term structure embodies the... READ MORE...

Publication date: March 1993
ISBN 9781451843705
$15.00

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