IDEAS home Printed from https://ideas.repec.org/p/fth/pennfi/2-86.html
   My bibliography  Save this paper

The Sources of the Movements in Interest Rates: An Empirical Investigation

Author

Listed:
  • A. Penati

Abstract

The paper investigates the sources of interest rate movements in Italy during the 1970s. In that decade, the country experienced the highest and most variable inflation rate among the industrial nations and was affected both by external shocks and by shocks to the labor and financial markets. The paper shows that movements in inflationary expectations dominated the nominal interest rate variability. The part of variability that was not explained by expected inflation was accounted for by unanticipated changes in the terms of trade; by contrast, domestic monetary and real disturbances did not have a sizeable impact on the variability.

Suggested Citation

  • A. Penati, "undated". "The Sources of the Movements in Interest Rates: An Empirical Investigation," Rodney L. White Center for Financial Research Working Papers 2-86, Wharton School Rodney L. White Center for Financial Research.
    • Handle: RePEc:fth:pennfi:2-86
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Markus J. Granziol & Anna Holzgang, 1988. "The Contribution of Inflation to the Level and the Variability of Nominal Interest Rates : Some Multi-Country Evidence," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 124(IV), pages 559-573, December.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fth:pennfi:2-86. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Thomas Krichel (email available below). General contact details of provider: https://edirc.repec.org/data/rwupaus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.