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- W2097620525 abstract "The expectation theory of the term structure was investigated in this study by employing the 10 day short and 30, 90 and 180 day long commercial paper rates in Taiwan. The results indicate that the theory is rejected for the shorter maturity, such as (10,30) days rates, but cannot be rejected for the longer maturities, such as (10, 90) and (10,180) day rates. The reason that the short maturity does not work out well for the expectation theory is probably due to noise, e.g. monthly factor, contaminated in the high frequency date, but not in the low frequency data. Since all rates are cointegrated, the policy “Operation Twist” is not suggested. [C30,E43]" @default.
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- W2097620525 date "1998-04-01" @default.
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- W2097620525 title "THE TERM STRUCTURE OF TAIWAN MONEY MARKET RATES AND RATIONAL EXPECTATION" @default.
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- W2097620525 doi "https://doi.org/10.1080/10168739800080007" @default.
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