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The policy anticipation hypothesis and the expected inflation hypothesis: Some new evidence using index linked bonds

Peel, David and Pope, Peter and Paudyal, K. (1990) The policy anticipation hypothesis and the expected inflation hypothesis: Some new evidence using index linked bonds. Economics Letters, 34 (2). pp. 121-125. ISSN 0165-1765

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Abstract

Using price index linked and conventional bonds issued by the UK Government, estimates of expectedinflation and the expected real interest rate are derived. These estimates are employed to investigate the relationship between components of the nominal interest rate and surprise monetary change. The empirical results support the expectedinflationhypothesis rather than the policyanticipationhypothesis.

Item Type: Article
Journal or Publication Title: Economics Letters
Subjects: H Social Sciences > HB Economic Theory
Departments: Lancaster University Management School > Economics
Lancaster University Management School > Accounting & Finance
ID Code: 55951
Deposited By: ep_importer_pure
Deposited On: 19 Jul 2012 16:40
Refereed?: Yes
Published?: Published
Last Modified: 09 Apr 2014 23:50
Identification Number:
URI: http://eprints.lancs.ac.uk/id/eprint/55951

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