{"id":862,"date":"2007-05-19T20:07:10","date_gmt":"2007-05-20T00:07:10","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=862"},"modified":"2007-05-19T20:07:10","modified_gmt":"2007-05-20T00:07:10","slug":"external-paper-chinese-effect-on-us-interest-rates","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=862","title":{"rendered":"External Paper: Chinese Effect on US Interest Rates"},"content":{"rendered":"<p>I can&#8217;t stand it any more! I read something interesting on the Internet and then have trouble finding it later! So from now on, I&#8217;m going to keep a list: <a href=\"http:\/\/www.federalreserve.gov\/pubs\/ifdp\/2005\/840\/ifdp840.pdf\">International Capital Flows and U.S. Interest Rates<\/a>, Francis E. Warnock, Veronica Cacdac Warnock.<\/p>\n<blockquote><p>Abstract: Foreign flows have an economically large and statistically significant impact on longterm interest rates. Controlling for various macroeconomic factors we estimate that had there been no foreign flows into U.S. bonds over the past year, the 10-year Treasury yield would currently be 150 basis points higher; even a step-down to average inflows would imply an increase of 105 basis points. The impact of the headline-making foreign official flows\u2014a relatively small subset of total foreign accumulation of U.S. bonds\u2014is also significant but markedly smaller. Our results are robust to a number of alternative specifications.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>I can&#8217;t stand it any more! I read something interesting on the Internet and then have trouble finding it later! So from now on, I&#8217;m going to keep a list: International Capital Flows and U.S. &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"class_list":["post-862","post","type-post","status-publish","format-standard","hentry","category-interesting-external-papers"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/862","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=862"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/862\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}