Macroeconomics 12th Edition by Rudiger Dornbusch ,Stanley Fischer,Richard Startz

تمرين 15

The textbook states that under perfect capital mobility, interest rates in the home country cannot diverge from those abroad. In this exercise you will take a look at interest rates in the United States and the European Union.
a. Go to http://research.stlouisfed.org/fred2. Click on "Categories," under "Money, Banking, Finance" select "Interest Rates" and then select "Treasury Constant Maturity." Select the variable "1-Year Treasury Constant Maturity Rate," and get the data going three years back. (You can choose between daily, weekly, or monthly data.)
b. Go to the European Central Bank's yield curve statistics site at www.ecb.int/stats/ money/yc/html/index.en.html. On the right, click on "Statistical Data Warehouse (SDW)." Look for "Par Yield Curve Rate, 1-Year Maturity" and get the data for the last three years.
c. Make a graph in EXCEL that includes the two 1-year interest rates on government bonds, one for the United States and one for the European Union. Visually, what is the relationship between the two variables Can you conclude something about the degree of capital mobility between the United States and the European Union