{"title":"通货膨胀保值债券收益率与联邦基金利率之间二次关系的检验","authors":"Y. Hsing","doi":"10.1080/17446540701704331","DOIUrl":null,"url":null,"abstract":"This article examines the potential impacts of monetary policy on the yield of Treasury inflation-protected securities (TIPS). A quadratic relationship is confirmed for all four types of TIPS. It suggests that Fed easing would not lower TIPS yields when the federal funds rate is below certain critical values whereas Fed tightening would raise TIPS yields when the federal funds rate is greater than certain critical values.","PeriodicalId":345744,"journal":{"name":"Applied Financial Economics Letters","volume":"77 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2008-04-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Test of a quadratic relationship between the yield of TIPS and the federal funds rate\",\"authors\":\"Y. Hsing\",\"doi\":\"10.1080/17446540701704331\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This article examines the potential impacts of monetary policy on the yield of Treasury inflation-protected securities (TIPS). A quadratic relationship is confirmed for all four types of TIPS. It suggests that Fed easing would not lower TIPS yields when the federal funds rate is below certain critical values whereas Fed tightening would raise TIPS yields when the federal funds rate is greater than certain critical values.\",\"PeriodicalId\":345744,\"journal\":{\"name\":\"Applied Financial Economics Letters\",\"volume\":\"77 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2008-04-21\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Applied Financial Economics Letters\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1080/17446540701704331\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Applied Financial Economics Letters","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1080/17446540701704331","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Test of a quadratic relationship between the yield of TIPS and the federal funds rate
This article examines the potential impacts of monetary policy on the yield of Treasury inflation-protected securities (TIPS). A quadratic relationship is confirmed for all four types of TIPS. It suggests that Fed easing would not lower TIPS yields when the federal funds rate is below certain critical values whereas Fed tightening would raise TIPS yields when the federal funds rate is greater than certain critical values.
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