Technically, the Three-Paned Model helps us understand the determinants of interest rates in general but tells us nothing about any particular interest rate. The vagueness of the Three-Paned Model is useful when first learning international macroeconomics, but is untenable as we move toward a more complete understanding of interest rates. This technical note is much more precise about real and nominal interest rates, providing a more complete IS/LM model as a driver of general movements in interest rates, presenting a supply and demand model for bonds that further enhances our understanding of interest rate movements, and discussing the yield curve, which informs us about the relationship between similar bonds of different maturities.

【書誌情報】

ページ数：14ページ

サイズ：A4

商品番号：HBSP-UV0994

発行日：2006/3/19

登録日：2014/8/20