Skip to main content
Article thumbnail
Location of Repository

Do short-term interest rates influence long-term interest rates? Empirical evidence from some EMS countries

By Gabriel Quiros-Romero and Simon Sosvilla-Rivero


This paper attempts to evaluate the possible influence of short-term interest rates on the determination of long-term interest rates for some EMS countries. In particular, we discuss a way of reconciling the widely dominant term-structure approach to interest rates with the conditions imposed by the market practice of financing high proportions of securities portfolios at money market rates. To that end, we apply the cointegration analysis to daily data.

DOI identifier: 10.1080/135048597355249
OAI identifier:
Download PDF:
Sorry, we are unable to provide the full text but you may find it at the following location(s):
  • (external link)
  • Suggested articles

    To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.