Is There a Risk Premium in Canadian Interest Rates?
نویسنده
چکیده
Newspaper articles and economic commentaries have ascribed the decline in interest rates in Canada in late 1995 and in 1996, virtually as a matter of demonstrated fact, to a diminishing risk premium on financial investments in Canada. They have argued that lower interest rates are an economic dividend that Canadians have rightly earned in return for swallowing the tough medicine of monetary and fiscal restraint. For example, in recapping the bullish 1996 enjoyed by Bay Street, The Globe and Mail (Barnes, 1996:B12) reported the following explanation of falling interest rates in Canada — apparently as uncontroversial, factual news since no attribution or disclaimer was provided:
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تاریخ انتشار 2003