Changes in the relationship between short‐term interest rate, inflation and growth: evidence from the UK, 1820–2014

AbstractWith the beginning of EMU there will be only one monetary policy with a single short term interest rate. In order for common monetary policy to be successful EMU member states have to react similarly to monetary signals from the European Central Bank (ECB). Because of its unique sensitivity to short term interest rates, this would not be the case for the UK. If, for example, the ECB would raise the short term interest rates by an amount which is appropriate for countries like France and Germany, the UK might sink into recession. This shows that besides political reasons there is also an economic reason for the UK’s opting-out from EMU.

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An Empirical Investigation on the Relationship Between the Eurozone Zew Index and the Eurozone Stock Markets

Studia Universitatis „Vasile Goldis” Arad – Economics Series ◽

10.2478/sues-2021-0016 ◽

2021 ◽

Vol 31 (4) ◽

pp. 1-17

Author(s):

Nesrin Ceylan ◽

Turgay Münyas

Keyword(s):

Stock Market ◽

Stock Markets ◽

Short Term ◽

Monthly Data ◽

Research Findings ◽

Independent Variable ◽

The Uk ◽

Conclusion Section ◽

The Relationship

Abstract The aim of this study is to investigate the long and short term impact of the Euro ZEW index (ZEW) on the DAX (GDAXI) Germany, FTSE 100 (FTSE) the UK, CAC 40 (FCHI) France, OMXS30 Sweden and CROBEX (CRBEX) Croatia stock market indices using monthly data for the period between February 2008 and December 2020. The Euro ZEW Index was taken as the independent variable, and the index values of Eurozone stock markets were taken as the dependent variables. As a result of the study, the Euro ZEW index was found to have a positive (increasing) statistical significant effect on the DAX, FTSE, OMXS and CRBEX variables. Of the stock markets studied, Croatia CROBEX (CRBEX) index was the most affected index by the change in the Euro ZEW index. The least affected stock market was Germany DAX (GDAXI) index. The effect of the Euro ZEW Index on Euro stock markets was higher in the short-term, and gradually decreasing in the long term. The research findings are discussed in the conclusion section.

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Impact of Money, Interest Rate and Inflation on Dhaka Stock Exchange (DSE) of Bangladesh

Journal of Business and Technology (Dhaka) ◽

10.3329/jbt.v11i1.34241 ◽

2017 ◽

pp. 41-54 ◽

Cited By ~ 1

Author(s):

Shakira Mahzabeen

Keyword(s):

Interest Rate ◽

Money Supply ◽

Inflation Rate ◽

Stock Exchange ◽

Strong Impact ◽

Short Term ◽

Causality Test ◽

Pairwise Correlation ◽

The Impact ◽

The Relationship

In this study, the impact of money supply, interest rate and inflation on Dhaka Stock Exchange (DSE) of Bangladesh is explored. These macroeconomic variables are said to have strong impact on capital market. The purpose of this study is to find out if it is true for Dhaka Stock Exchange. For this purpose, data were collected for a period of twelve years from January 2001 to December 2012, on 144 variables. Broad money supply (M2) has been taken as a measure of money supply, 91-days T-bill has been taken as a measure of short-term interest rate and CPI general inflation rate (Base: 1995=100) has been taken as a measure of inflation rate. Apart from that many rules and regulations were reviewed. As to the relationship of the market indices, month-end DGEN Index and its percentage change were used in this paper. A unit root test has been done to see the stationarity of the variables because stationary data are needed for the analysis. A pairwise correlation matrix shows that there was no multicolinearity problem. A simple OLS regression indicates a relationship with money growth, interest rate. But Granger causality test shows that there is only a slight relationship with short term interest rate, nothing else. Overall though a short-run relationship is found between interest rate and market index; the relationship is not very strong. It is proposed that a study estimating long run impact of the explanatory variables should be taken up to know the full effect.Journal of Business and Technology (Dhaka) Vol.11(1-2) 2016; 41-54

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Determining the presence of a long-term/short-term dilemma for SMEs when adopting strategic orientation to improve performance

International Small Business Journal Researching Entrepreneurship ◽

10.1177/0266242619879369 ◽

2019 ◽

Vol 38 (2) ◽

pp. 90-110

Author(s):

Simone Regina Didonet ◽

Andrew Fearne ◽

Geoff Simmons

Keyword(s):

Strategic Orientation ◽

Short Term ◽

Strategic Orientations ◽

Managerial Implications ◽

Business Approach ◽

The Uk ◽

The Impact ◽

The Relationship

This study seeks to discuss a potential ‘long-term/short-term dilemma’ for small and medium-sized enterprises (SMEs), which could cause tension when adopting two strategic orientations assumed to be complementary – market orientation (MO) and sales orientation (SO). Specifically, the objective of this study is to examine the role of MO and SO as mediators of the relationship between business approach and SME performance. An empirical study of 122 SMEs in the UK grocery sector is conducted. The results reveal that an apparent conflict or tension between market and SO seems to exist in practice. SMEs emphasise both strategic orientations as a way of framing their business approach. However, this emphasis does not hold when considering SME performance. The impact of business approach on performance only occurs through MO. There is no observable significance in the mediation of SO on this relationship. Theoretical and managerial implications for SME management literature and practice are developed.

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Regime switching in the relationship between equity returns and short-term interest rates in the UK

Journal of Banking & Finance ◽

10.1016/j.jbankfin.2008.08.001 ◽

2009 ◽

Vol 33 (2) ◽

pp. 405-414 ◽

Cited By ~ 56

Author(s):

Ólan T. Henry

Keyword(s):

Interest Rates ◽

Regime Switching ◽

Equity Returns ◽

Short Term ◽

The Uk ◽

The Relationship

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Thromboplastin Related Differences in the Determination of International Normalised Ratio: A Cause for Concern?

Thrombosis and Haemostasis ◽

10.1055/s-0038-1648883 ◽

1994 ◽

Vol 72 (03) ◽

pp. 426-429 ◽

Cited By ~ 31

Author(s):

S Kitchen ◽

I D Walker ◽

T A L Woods ◽

F E Preston

Keyword(s):

Patient Management ◽

External Quality Assessment ◽

Oral Anticoagulant Therapy ◽

Warfarin Dosage ◽

External Quality ◽

External Quality Assessment Scheme ◽

International Normalised Ratio ◽

The Uk ◽

The Relationship

SummaryWhen the International Normalised Ratio (INR) is used for control of oral anticoagulant therapy the same result should be obtained irrespective of the laboratory reagent used. However, in the UK National External Quality Assessment Scheme (NEQAS) for Blood Coagulation INRs determined using different reagents have been significantly different.For 18 NEQAS samples Manchester Reagent (MR) was associated with significantly lower INRs than those obtained using Diagen Activated (DA, p = 0.0004) or Instrumentation Laboratory PT-Fib HS (IL, p = 0.0001). Mean INRs for this group were 3.15, 3.61, and 3.65 for MR, DA, and IL respectively. For 61 fresh samples from warfarin-ised patients with INRs of greater than 3.0 the relationship between thromboplastins in respect of INR was similar to that observed for NEQAS data. Thus INRs obtained with MR were significantly lower than with DA or IL (p <0.0001). Mean INRs for this group were 4.01, 4.40, and 4.59 for MR, DA, and IL respectively.We conclude that the differences between INRs measured with the thromboplastins studied here are sufficiently great to influence patient management through warfarin dosage schedules, particularly in the upper therapeutic range of INR. There is clearly a need to address the issues responsible for the observed discrepancies.

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Researching (with) Major Food Retailers

Gastronomica The Journal of Food and Culture ◽

10.1525/gfc.2015.15.3.33 ◽

2015 ◽

Vol 15 (3) ◽

pp. 33-39 ◽

Cited By ~ 3

Author(s):

David Evans

Keyword(s):

Food Systems ◽

Academic Research ◽

Social Scientists ◽

Major Food ◽

Food Retailers ◽

Food Retailer ◽

The One ◽

The Uk ◽

The Relationship ◽

Opening Up

This paper considers the relationship between social science and the food industry, and it suggests that collaboration can be intellectually productive and morally rewarding. It explores the middle ground that exists between paid consultancy models of collaboration on the one hand and a principled stance of nonengagement on the other. Drawing on recent experiences of researching with a major food retailer in the UK, I discuss the ways in which collaborating with retailers can open up opportunities for accessing data that might not otherwise be available to social scientists. Additionally, I put forward the argument that researchers with an interest in the sustainability—ecological or otherwise—of food systems, especially those of a critical persuasion, ought to be empirically engaging with food businesses. I suggest that this is important in terms of generating better understandings of the objectionable arrangements that they seek to critique, and in terms of opening up conduits through which to affect positive changes. Cutting across these points is the claim that while resistance to commercial engagement might be misguided, it is nevertheless important to acknowledge the power-geometries of collaboration and to find ways of leveling and/or leveraging them. To conclude, I suggest that universities have an important institutional role to play in defining the terms of engagement as well as maintaining the boundaries between scholarship and consultancy—a line that can otherwise become quite fuzzy when the worlds of commerce and academic research collide.

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