Abstract
Previous research has found that U.S. monetary regime changes are related to changes in the behavior of ex ante real interest rates. This paper examines monetary regime changes in other countries to test whether changes in expected real interest rates are related to monetary regime changes in a systematic manner. The results show that while real rates have not been constant across monetary regimes, the characteristics of the real rate process shifts differ across countries. This evidence is consistent with theories that predict the neutrality of monetary regime changes with respect to real variables.
Full Text 
Sign-in/Register to access full text options
Sign-in/Register to access full text options 
Paper version not known
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
