Which Government Bond Spread Predicts the Future Economic Growth the Best?
Identifikátory výsledku
Kód výsledku v IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F16%3A00091065" target="_blank" >RIV/00216224:14560/16:00091065 - isvavai.cz</a>
Výsledek na webu
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DOI - Digital Object Identifier
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Alternativní jazyky
Jazyk výsledku
angličtina
Název v původním jazyce
Which Government Bond Spread Predicts the Future Economic Growth the Best?
Popis výsledku v původním jazyce
The spread between long term and short term interest rates is a valuable forecasting tool. The steepness of the yield curve should be an excellent indicator of a possible future economic activity. A rise in the short rate tends to flatten the yield curve as well as to slow down real economic growth the near term. The relationship between the spread and future GDP activity was proved already before. One question remains – which spread is the best for the future prediction? Is it the spread between sovereign 10-year bonds and 3-month bonds or 15-year and 3- month or 10-year and 1-year sovereign bonds? This paper aimed to analyze which spread is the most suitable for predicting of future economic growth in countries of V4 (Czech Republic, Hungary, Poland, Slovakia) between the years 2000 and 2015. We proved that in these selected countries the best spread is a spread of 5-year and 3-month government bonds. The second best spread is spread of 5-year and 1-year government bonds.
Název v anglickém jazyce
Which Government Bond Spread Predicts the Future Economic Growth the Best?
Popis výsledku anglicky
The spread between long term and short term interest rates is a valuable forecasting tool. The steepness of the yield curve should be an excellent indicator of a possible future economic activity. A rise in the short rate tends to flatten the yield curve as well as to slow down real economic growth the near term. The relationship between the spread and future GDP activity was proved already before. One question remains – which spread is the best for the future prediction? Is it the spread between sovereign 10-year bonds and 3-month bonds or 15-year and 3- month or 10-year and 1-year sovereign bonds? This paper aimed to analyze which spread is the most suitable for predicting of future economic growth in countries of V4 (Czech Republic, Hungary, Poland, Slovakia) between the years 2000 and 2015. We proved that in these selected countries the best spread is a spread of 5-year and 3-month government bonds. The second best spread is spread of 5-year and 1-year government bonds.
Klasifikace
Druh
D - Stať ve sborníku
CEP obor
AE - Řízení, správa a administrativa
OECD FORD obor
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Návaznosti výsledku
Projekt
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Návaznosti
S - Specificky vyzkum na vysokych skolach
Ostatní
Rok uplatnění
2016
Kód důvěrnosti údajů
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Údaje specifické pro druh výsledku
Název statě ve sborníku
Proceedings of the 3rd International Conference on European Integration 2016
ISBN
9788024839110
ISSN
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e-ISSN
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Počet stran výsledku
7
Strana od-do
376-382
Název nakladatele
VŠB - Technical University of Ostrava
Místo vydání
Ostrava
Místo konání akce
Ostrava
Datum konání akce
1. 1. 2016
Typ akce podle státní příslušnosti
EUR - Evropská akce
Kód UT WoS článku
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