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- W2200847734 abstract "We examined the forecast power ofthe term structure of interest rates on future interest rates and tested whether changes in monetary policy regimes affect the power using Campbell (1995). The pure expectations hypothesis was rejected for both monetary targeting and inflation targeting periods. We also found that the term structure of interest rates had forecast power on the direction of future interest rates for inflation targeting monetary regime whereas it does not for monetary targeting regime. This result is opposite to Mankiw and Miron's (1986) conjecture and Engsted and Tanggaard (1995) for Danish but consistent with Cha (2003) for Korea." @default.
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- W2200847734 date "2005-01-01" @default.
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- W2200847734 title "Information of the Yield Curve of Korea and Monetary Regimes" @default.
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