Prediction of the economic activity from the short and long-term interest rate differential: New evidences in Chile and the United States of America cases

David Cademartori, Rodrigo Navia, Manuel Galea, Felipe Osorio

Resultado de la investigación: Contribución a una revistaArtículorevisión exhaustiva

Resumen

The purpose of this work is to verify the stability of the relationship between real activity and interest rate spread. The test is based on Chen (1988) and Osorio and Galea (2006). The analysis is applied to Chile and the United States, from 1980 to 1999. In general, in both cases the relationship was statistically significant in early 80s, but a break point is found in both countries during that decades, suggesting that the relationship depends on the monetary rule follow by the Central Bank.

Idioma originalInglés
Páginas (desde-hasta)707-712
Número de páginas6
PublicaciónApplied Economics Letters
Volumen15
N.º9
DOI
EstadoPublicada - jul. 2008
Publicado de forma externa

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