Term Structure of Interest Rates

Expectations and Behavior Patterns

Burton Gordon Malkiel

• Publisher: Princeton University Press
• Year: 2015
• ISBN:
  9781400879786
• Topic: Economics
• Subtopic: Economic Theory
• Index: Economics

Can expectations alone explain the yield differentials among bonds of different maturities? To what extend do attitudes toward risk and transactions costs influence the behavior of bond investors? Is it possible for the Federal Reserve to "twist" the interest-rate structure in accordance with its policy objectives? These are among the questions treated.Originally published in 1966.The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Table of contents

• Cover
• Contents
• Preface
• List of Figures
• List of Tables
• 1. The Yield Curve: Methods of Construction and Historical Patterns
• 2. The Traditional Expectations Theory and Its Critics
• 3. An Alternative Formulation of the Expectations Theory
• 4. An Empirical Test of the Reformulated Expectations Hypothesis
• 5. Transactions Costs and the Term Structure of Interest Rates
• 6. Modifications for Institutional Preferences and Diverse Expectations: Some Empirical Evidence on Behavior Patterns
• 7. A Synthesis of the Expectations and Institutional Theories
• 8. Summary and Policy Implications
• Glossary
• Bibliography
• Index