On the equality of real interest rates across borders in integrated capital markets

Minford, Patrick and Peel, David 2005. On the equality of real interest rates across borders in integrated capital markets. [Working Paper]. Cardiff Economics Working Papers, Cardiff: Cardiff University.

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Abstract

The purpose in this letter is first to review briefly the empirical results on the relationship between real interest rates and real exchange rates; this empirical literature provides little support for the hypothesis of Roll that expected real interest rates are equal in general. Our second aim is to discuss the theoretical conditions that have to be met for his hypothesis to hold.

Item Type:	Monograph (Working Paper)
Date Type:	Publication
Status:	Published
Schools:	Business (Including Economics)
Subjects:	H Social Sciences > HB Economic Theory
Publisher:	Cardiff University
Date of First Compliant Deposit:	30 March 2016
Last Modified:	05 Oct 2015 14:07
URI:	https://orca.cardiff.ac.uk/id/eprint/77701

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