文章基本信息

标题：Convergencia en Tipos de InterÃ©s de la EconomÃa EspaÃ±ola ante la UniÃ³n Monetaria Europea
本地全文：下载
作者：Mariam Camarero ; Vicente Esteve ; Cecilio Tamarit 等
期刊名称：Revista de Análisis Económico (RAE)
印刷版ISSN：0716-5927
电子版ISSN：0718-8870
出版年度：1997
卷号：12
期号：2
页码：71-99
语种：Spanish
出版社：ILADES & Universidad Alberto Hurtado
摘要：This paper examines whether there is convergence between the interest rates of the Spanish and German economies or at least with a weighted average of the European Union (EU). For this purpose a time series approach is adopted and some unit root tests allowing for structural breaks when the breakpoint is unknown are implemented. The empirical findings allow us to accept the fang-term convergence hypothesis towards a weighted average of the EMS. The results also allow us to accept the existence of a catching lip process in long-term interest rate differentials with Germany. Further evidence is obtained using the Kalman filter. This technique allows us to study in more detail the speed and evolution of the catching lip processes.