The monotonicity of the term premium: Another lock

Richardson, Matthew, Richardson, Paul and Smith, Tom (1992) The monotonicity of the term premium: Another lock. Journal of Financial Econoimcs, 31 1: 97-105. doi:10.1016/0304-405X(92)90013-N

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Author Richardson, Matthew
Richardson, Paul
Smith, Tom
Title The monotonicity of the term premium: Another lock
Journal name Journal of Financial Econoimcs   Check publisher's open access policy
ISSN 0304-405X
Publication date 1992-02
Sub-type Article (original research)
DOI 10.1016/0304-405X(92)90013-N
Volume 31
Issue 1
Start page 97
End page 105
Total pages 9
Place of publication Amsterdam, Netherlands
Publisher Elsevier
Language eng
Abstract This paper reexamines existing evidence regarding the monotonicity of the term premium. Using a recently developed approach for testing inequality constraints, we propose and conduct tests for whether the term premium is monotonic and reach different conclusions from those implied by individual t-statistics on term premiums (even under a Bonferroni-type adjustment). Our results generally support McCulloch's (1987) view that the liquidity preference hypothesis remains unrefuted.
Q-Index Code C1
Q-Index Status Provisional Code
Institutional Status Non-UQ

Document type: Journal Article
Sub-type: Article (original research)
Collection: UQ Business School Publications
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Citation counts: TR Web of Science Citation Count  Cited 14 times in Thomson Reuters Web of Science Article | Citations
Scopus Citation Count Cited 17 times in Scopus Article | Citations
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Created: Thu, 24 May 2012, 09:56:40 EST by Karen Morgan on behalf of UQ Business School