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dc.contributor.authorHolmes, Mark J.
dc.contributor.authorWang, Ping
dc.date.accessioned2010-03-14T20:09:54Z
dc.date.available2010-03-14T20:09:54Z
dc.date.issued2009
dc.identifier.citationHolmes, M. J. & Wang, P. (2009). Are real interest rates of EU association countries characterized by non-linear convergence? Research in Applied Economic, 1(1), E13.en
dc.identifier.urihttps://hdl.handle.net/10289/3711
dc.description.abstractIn this study, we concurrently test for nonlinearity (threshold) effects and non-stationarity (unit roots) in real interest rate differentials. Using data for the ten accession countries that joined the EU in 2004, we find evidence of strong nonlinear effects. Long-run real interest rate parity has held for some of the sample, but subject to two different stationary regimes. Other countries are characterized with partial unit root behaviour insofar as differentials switch between alternative regimes of stationary and non-stationary behaviour.en
dc.language.isoen
dc.publisherMacrothink Instituteen_NZ
dc.relation.urihttp://www.macrothink.org/journal/index.php/rae/article/view/303en
dc.subjectreal interest parityen
dc.subjectunit rootsen
dc.subjectasymmetric adjustmenten
dc.titleAre real interest rates of EU association countries characterized by non-linear convergence?en
dc.typeJournal Articleen
dc.relation.isPartOfResearch in Applied Economicsen_NZ
pubs.begin-page1en_NZ
pubs.elements-id34753
pubs.end-page17en_NZ
pubs.issue1en_NZ
pubs.volume1en_NZ


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