A major goal of economic research has been the determination of causal relationships
among variables. For most economic models, correlation in an estimated model is taken as …

ANY ADVOCATE OF MONETARY ACTIVISM has several shoals to navigate. First is the
challenge to explain how money works. The numerous channels through which monetary policy …

A decision model is presented that integrates the relevant factors of portfolio management
in a cohesive and logical manner to produce guidelines that satisfy investors' objectives and …

Riding the yield curve is a strategy of buying longer-dated Treasury bills when the yield
curve is upward sloping and selling them prior to maturity in the hope of collecting any term …

Derivatives such as futures contracts on Treasury bonds (T-bonds) anci notes are tailorniade
for hedging interest-rate risk, and in priticiple, computation of an optimal hedge ratio should …

Purpose – This article aims to explore three facets of the historical performance of a sample
of actively managed unit trusts available to New Zealand investors: asset allocation, style …

Using Treasury bond and note futures to hedge fixed‐income portfolios is complicated by the
large number of bonds that are eligible to deliver against the contract. Grieves and Marcus […

Investors who want to sell rich securities or buy cheap securities and maintain their portfolio
durations often employ butterfly trades. A butterfly trade typically uses 3 securities of different …

The effectiveness of riding the bill curve using a comprehensive sample of US Treasury bills
over a recent 10-year period is examined. The results suggest that riding the bill curve …

Weinstein (1985) hanges in interest rates change both Trea-sury bond prices and corporate
bond prices; changes in companies' prospects change stock prices and, by changing default …