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dc.creatorDomínguez Irastorza, Emilio Josées_ES
dc.creatorNovales, Alfonsoes_ES
dc.description.abstractConsistent empirical evidence has recently been brought up about the forecasting ability of the term estructure of nominal interes rates, relative to future economic activity. However, there has not been chch work that would check whether that is a robust property of general equilibrium asset pricing models. We present a theoretical economy, with real and nominal assets issued at different maturities, in which the nominal term estructure has, in fact, forecasting power for future real growth. That information content goes beyond the one contained in short-term rates or in monetary policy variables.en
dc.format.extent34 p.
dc.relation.ispartofseriesDocumentos de Trabajo DE - ES Lan Gaiakes
dc.rightsCC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)en
dc.subjectTerm structureen
dc.subjectExpectations hypothesisen
dc.subjectEconomic fluctuationsen
dc.subjectBusiness cyclesen
dc.titleThe term structure as a predictor of real economic growth: a general equilibrium approachen
dc.typeDocumento de trabajo / Lan gaiakes
dc.rights.accessRightsAcceso abierto / Sarbide irekiaes

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CC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)
Except where otherwise noted, this item's license is described as CC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)

El Repositorio ha recibido la ayuda de la Fundación Española para la Ciencia y la Tecnología para la realización de actividades en el ámbito del fomento de la investigación científica de excelencia, en la Línea 2. Repositorios institucionales (convocatoria 2020-2021).
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