Browsing by Subject "Interest rates"
Now showing items 1-17 of 17
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A co-integration based analysis of Irish purchasing power parity relationships using the Johansen procedure
(Economic & Social Studies, Dublin, 1994)Empirical work has found little evidence for purchasing power parity, specified as a long-run co-integrating relationship between Ireland and trading partners. Using Irish/UK and Irish/German data, we find evidence for ... -
Are capital markets efficient? evidence from the term structure of interest rates in Europe
(Economic & Social Studies, Dublin, 2002)This paper investigates the uncovered interest parity hypothesis in an unusual way. We provide empirical evidence on the efficiency of capital markets using a time domain approach. However, a common prediction from theoretical ... -
Interest and non-interest terms in the process of mortgage market clearing: a reply
(Economic & Social Studies, Dublin, 1990)Thom (1990) argues that, in a situation of excess mortgage demand, loan applicants "with relatively low LV ratios (high DR ratios) have their demands satisfied while those with relatively high LV ratios are placed in a ... -
Interest and non-interest terms in the process of mortgage market clearing: a comment
(Economic & Social Studies, Dublin, 1990)In a recent contribution to this Review Browne (1988) considers the problem of estimating mortgage demand and supply functions in situations where the speed of interest rate adjustment is insufficient to eliminate excess ... -
Interest and non-interest terms in the process of mortgage market clearing: a rejoinder
(Economic & Social Studies, Dublin, 1990)In his reply to my comment Browne claims that the failure of variations in the downpayment ratio to shift market demand "is no more than a mere hypothesis which does not ,..., possess much apriori appeal." The bases of my ... -
Ireland in EMU: more shocks, less insulation?
(Economic & Social Studies, Dublin, 2006)Despite anchoring the Irish monetary system to a common zone-wide exchange rate and interest rate, EMU has triggered sizeable exchange rate and especially interest rate shocks to the Irish economy (albeit not appreciably ... -
Modelling the dynamics of the term structure of interest rates
(Economic & Social Studies, Dublin, 1990)In order to provide tractable bond pricing formulae, the arbitrage theories of the term structure make specific assumptions as to the number, identity and process generating the underlying forcing variables. This paper ... -
On the cost and delay in obtaining loans on land and the high rate of interest charged to tenants for loans
(Statistical and Social Inquiry Society of Ireland, 1881)The failure of the potato crop in Ireland, in 1845, which led to Sir Robert Peel's cabinet adopting and carrying Free Trade, was followed by the still more extensive failure in 1846. This brought on a paralysis of credit, ... -
On the effect of the usury laws on the trade of lending money to the poor in Ireland
(Statistical and Social Inquiry Society of Ireland, 1851)In the course of some investigations into the condition of the poorer classes in Ireland, my attention has been directed to the state of the trade of lending money amongst them. I find that whilst the large farmers ... -
On the extent to which the principles advocated in ?Bentham's Letters on Usury? have still to be adopted in the laws of England and of foreign countries
(Statistical and Social Inquiry Society of Ireland, 1882)The abolition of the Usury Laws may, by many, be considered complete in England, and to have removed them and their demerits out of the class of subjects of practical importance which this Society is accustomed to discuss. ... -
Retail interest rate pass-through: the Irish experience
(Economic & Social Studies, Dublin, 2002)In this paper, we examine the extent to which changes in the money market interest rate are passed through to a number of retail lending rates between 1980 and 2001. In addition, we analyse the speed of adjustment of these ... -
Sterling movements and Irish pound interest rates
(Economic & Social Studies, Dublin, 1994)Despite convergence of inflation to below the system's average, Ireland experienced volatile short-term interest rates in the EMS. Much of the volatility comes from periods of Sterling weakness being associated with higher ... -
The demand for money and the term structure of interest-rates in Ireland, 1971-1981
(Economic & Social Studies, Dublin, 1985)This paper investigates the extent to which the demand for various measures of money in Ireland depends upon the term structure of interest rates. The yield to maturity curve is first estimated using refinements of the ... -
The expectations hypothesis of the term structure: the case of Ireland
(Economic & Social Studies, Dublin, 2000)Using a number of short-term maturities and monthly data, 1984-1997, we provide a number of tests of the expectations hypothesis (EH) of the term structure. The paper draws on cointegration techniques and the methodological ... -
The influence of domestic and international interest rates on the ISEQ
(Economic & Social Studies, Dublin, 2003)We investigate the influence of international and domestic monetary policy shocks on the Irish stock market. Specifically, we analyse the impact of (un)expected changes in domestic, US, UK and German/euro area policy rates ... -
The influence of sterling on Irish interest rates
(Economic & Social Studies, Dublin, 1995)The influence of the Sterling real exchange rate on the Irish-German interest rate differential is assessed over the period 1987 to 1992. The estimation allows for structural change by permitting time variation in the ... -
The information in term structure interest rate spreads: the Irish case
(Economic & Social Studies, Dublin, 1990)The study of the term structure of interest rates looks at how the yields on bonds vary with time to maturity. Yield curves can be upward sloping, humped or downward sloping and their shape is often taken to be an indication ...