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    • Macroeconomic Models and the Yield Curve: An assessment of the Fit 

      Chadha, Jagjit S.; Holly, Sean (Faculty of Economics, University of Cambridge, UK, 2006-05)
      Many have questioned the empirical relevance of the Calvo-Yun model. This paper appends three widely-studied macroeconomic models (Calvo-Yun, Hybrid and Svensson) with forward rate curves. We back out from observations on ...