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- W1515698543 abstract "I study a general-equilibrium model of the term structure where bond prices are an integral part of the monetary transmission mechanism. The model is estimated on quarterly Euro area data. I show that, besides shocks to the inflation target, also exogenous variations in money demand and bond supply can explain movements in long-term interest rates. I also find that taking into account the impact of bond yields on the macroeconomy generates superior in-sample and out-of-sample forecasts for output, inflation and for bond yields." @default.
- W1515698543 created "2016-06-24" @default.
- W1515698543 creator A5009597996 @default.
- W1515698543 date "2009-05-13" @default.
- W1515698543 modified "2023-09-27" @default.
- W1515698543 title "What Drives the Term Structure in the Euro Area? Evidence from a Model with Feedback" @default.
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