{"id":574,"date":"1994-06-01T16:44:42","date_gmt":"1994-06-01T13:44:42","guid":{"rendered":"http:\/\/hardouvelis.gr\/?p=574"},"modified":"2023-10-26T17:50:21","modified_gmt":"2023-10-26T14:50:21","slug":"term-structure-spread-future-changes-long-short-rates-g7-countries-puzzle","status":"publish","type":"post","link":"https:\/\/hardouvelis.gr\/el\/term-structure-spread-future-changes-long-short-rates-g7-countries-puzzle\/","title":{"rendered":"The term structure spread and future changes in long and short rates in the G7 countries &#8211; Is there a puzzle?"},"content":{"rendered":"<p class=\"qtranxs-available-languages-message qtranxs-available-languages-message-el\">\u0395\u03b3\u03b3\u03c1\u03b1\u03c6\u03ae \u03b4\u03b9\u03b1\u03b8\u03ad\u03c3\u03b9\u03bc\u03b7 \u03c3\u03c4\u03b1 <a href=\"https:\/\/hardouvelis.gr\/en\/wp-json\/wp\/v2\/posts\/574\" class=\"qtranxs-available-language-link qtranxs-available-language-link-en\" title=\"English\">English<\/a>. For the sake of viewer convenience, the content is shown below in the alternative language. You may click the link to switch the active language.<\/p><p><strong>The term structure spread and future\u00a0changes in long and short rates\u00a0in the G7 countries &#8211;\u00a0Is there a puzzle?<\/strong><br \/>\nAuthor: Gikas A. Hardouvelis<br \/>\n<em>Journal: Journal of Monetary Economics 33 (1994) 255-283. North-Holland<\/em><\/p>\n<p>Abstract: According to the expectations hypothesis, when the spread between long and short rates widens, next quarter\u2019s long rate should rise. In the United States, however, long rates decline instead of rising. This anomaly is also present in Canada, the UK, Germany, and Japan (four of the additional six G7 countries). Nevertheless, in contrast to the US, where long rates appear to overreact to expected future developments, the anomalous shortrun movement of long rates in these other G7 countries is caused by an additive white noise error on long rates that does not materially affect the information in their term structure.<\/p>\n<p>Key words: Term structure; G7 countries; Expectations hypothesis; Overreaction<\/p>\n<p>JEL classification: E43<\/p>\n<p><a href=\"http:\/\/hardouvelis.gr\/wp-content\/uploads\/2017\/12\/JME_199433_255-83.pdf\">Donwload The term structure spread and future changes in long and short rates in the G&amp; Countries &#8211; Is there a puzzle? pdf<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>\u0395\u03b3\u03b3\u03c1\u03b1\u03c6\u03ae \u03b4\u03b9\u03b1\u03b8\u03ad\u03c3\u03b9\u03bc\u03b7 \u03c3\u03c4\u03b1 English. For the sake of viewer convenience, the content is shown below in the alternative language. You<\/p>\n","protected":false},"author":1,"featured_media":4399,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[3268],"tags":[3256],"yst_prominent_words":[295,1045,1044,1047,1038,1039,1041,125,1046,2356,1040,1035,123,1043,1036,1033,122,118,1037,1034],"class_list":["post-574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-on-the-yield-curve","tag-yield-curve"],"acf":[],"_links":{"self":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/comments?post=574"}],"version-history":[{"count":1,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/574\/revisions"}],"predecessor-version":[{"id":576,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/posts\/574\/revisions\/576"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/media\/4399"}],"wp:attachment":[{"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/media?parent=574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/categories?post=574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/tags?post=574"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/hardouvelis.gr\/el\/wp-json\/wp\/v2\/yst_prominent_words?post=574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}