World interest rates and investment

Article Abstract:

A world-based approach is useful in finding reasons for a considerable part of the common experience of real interest rates in developed countries. The real interest rate of each country differs from the average rate for all countries, a fact which cannot be explained by the structure of a single world credit market, and there is no clear connection between these individual-country components and acknowledged variables, such as investment ratios. Stock and oil market trends are also an important part of the common world component of real interest rates, with a further role being played by trends in world monetary expansion and public debt.

Analysis

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Economics and the public interest: the emergence of economics as an academic subject during the 18th century

Article Abstract:

An analysis of the historical development of economics as an academic subject is presented. Economics as an academic subject was not a product of liberalism which marked British and French debates on economic issues in the 18th century. As an academic subject, it developed inside dirigiste and mercantilist states of Continental Europe. Prussia, Sweden, Naples and many other states subscribed to the economic policy of export surplus which was the principle behind balance of trade.

Economic history, 18th century AD

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The predictive power of yield spreads for future interest rates: evidence from the Danish term structure

Article Abstract:

The effectiveness of yield spreads in forecasting future interest rates is analyzed using a database of zero-coupon bond yields from the Danish bond market. Results show that yield spreads accurately determined interest rates during the money targeting period 1976:1-1985:7. However, predictive ability of yield spreads deteriorated during the period 1985:8-1991:12 due to interest rate targeting.

Research, Forecasts and trends, Yield-line analysis, Yield line analysis

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