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193 Table 13.7 (Cont.) Year | Month | | MR240 | Year | Month | | MR240 | Year | Month | | MR240 | | | 3.209 | 4.15 | | | 5.525 | 5.47 | | | 4.920 | 5.83 | | | 3.390 | 4.15 | | | 5.324 | 5.31 | | | 5.273 | 6.85 | | | 3.490 | 4.17 | | | 5.324 | 5.12 | | | 5.727 | 6.88 | | | 3.450 | 4.16 | | | 5.021 | 5.20 | | | 6.131 | 6.85 | | | 3.530 | 4.16 | | | 5.223 | 5.29 | | | 6.081 | 6.88 | | | 3.490 | 4.24 | | | 5.273 | 5.40 | | | 6.738 | 7.03 | | | 3.309 | 4.21 | | | 5.122 | 5.55 | | | 7.547 | 7.09 | | | 3.259 | 4.17 | | | 6.333 | 5.92 | | | 8.358 | 7.57 | | | 3.440 | 4.14 | | | 6.030 | 6.00 | | | 8.662 | 7.31 | | | 3.309 | 4.18 | | | 5.929 | 6.08 | | | 7.244 | 7.02 | | | 3.309 | 4.18 | | | 5.424 | 6.20 | | | 7.294 | 7.27 | | | 3.510 | 4.18 | | | 6.434 | 5.92 | | | 7.244 | 7.11 | | | 3.470 | 4.16 | | | 5.929 | 6.29 | | | 7.345 | 7.30 | | | 3.611 | 4.18 | | | 6.232 | 6.17 | | | 7.244 | 7.38 | | | 3.410 | 4.19 | | | 6.738 | 6.17 | | | 7.547 | 7.49 | | | 3.772 | 4.18 | | | 7.142 | 6.21 | | | 8.358 | 7.80 | | | 3.832 | 4.19 | | | 7.244 | 6.70 | | | 8.865 | 8.12 | | | 3.812 | 4.17 | | | 6.839 | 6.52 | | | 7.648 | 8.06 | | | 3.862 | 4.18 | | | 7.041 | 6.80 | | | 7.851 | 8.06 | | | 3.812 | 4.18 | | | 7.547 | 6.81 | | | 8.307 | 8.32 | | | 3.812 | 4.18 | | | 7.750 | 6.84 | | | 9.576 | 8.51 | | | 3.762 | 4.19 | | | 6.637 | 6.41 | | | 7.041 | 8.39 | | | 3.812 | 4.25 | | | 6.738 | 6.48 | | | 7.041 | 8.00 | | | 4.013 | 4.33 | | | 6.738 | 6.90 | | | 7.294 | 7.75 | | | 3.913 | 4.35 | | | 6.535 | 7.42 | | | 7.041 | 7.65 | | | 3.812 | 4.40 | | | 6.131 | 7.15 | | | 5.424 | 7.64 | | | 4.316 | 4.49 | | | 6.283 | 6.75 | | | 4.618 | 7.60 |
| | 4.517 | 4.58 | | | 6.333 | 6.90 | | | 5.313 | 8.01 | | | 4.436 | 4.78 | | | 6.030 | 6.74 | | | 5.021 | 8.35 | | | 4.517 | 4.59 | | | 5.424 | 6.80 | | | 4.971 | 8.17 | | | 4.618 | 4.63 | | | 4.819 | 6.22 | | | 5.626 | 7.97 | | | 4.517 | 4.69 | | | 4.719 | 6.30 | | | 6.081 | 8.09 | | | 4.618 | 4.78 | | | 4.215 | 5.97 | | | 5.929 | 8.36 | | | 4.618 | 4.82 | | | 3.359 | 6.11 | | | 6.232 | 8.48 | | | 4.819 | 5.07 | | | 3.510 | 5.73 | | | 5.223 | 8.02 | | | 5.122 | 4.76 | | | 3.913 | 5.98 | | | 5.021 | 8.12 | | | 4.819 | 4.66 | | | 4.316 | 6.13 | | | 5.021 | 7.83 | | | 4.316 | 4.79 | | | 5.021 | 6.30 | | | 4.416 | 7.85 | | | 4.618 | 4.55 | | | 5.223 | 6.30 | | | 4.769 | 7.80 | | | 4.517 | 4.44 | | | 4.618 | 5.94 | | | 4.769 | 7.90 | | | 4.517 | 4.65 | | | 4.618 | 5.80 | | | 4.769 | 7.95 | | | 4.114 | 4.51 | | | 4.164 | 5.75 | | | 5.324 | 8.12 | | | 3.510 | 4.71 | | | 4.013 | 5.79 | | | 5.273 | 7.98 | | | 3.410 | 4.83 | | | 3.510 | 5.81 | | | 5.021 | 8.01 | | | 3.711 | 5.10 | | | 3.209 | 5.90 | | | 5.021 | 7.85 | | | 3.812 | 4.99 | | | 3.259 | 5.85 | | | 5.071 | 7.78 | | | 4.265 | 5.12 | | | 3.611 | 5.98 | 76 - | | 4.719 | , 7.73 | | | 4.316 | 5.18 | | | 3.410 | 5.98 | | | 4.366 | 7.48 | | | 4.215 | 5.46 | | | 3.611 | 5.81 | | | 4.164 | 7.16 | | | 4.517 | 5.60 | | | 3.711 | 5.86 | | | 4.567 | 7.68 | | | 4.517 | 5.57 | | | 3.611 | 5.73 | | | 4.477 | 7.74 | | | 4.819 | 5.37 | | | 4.517 | 5.70 | | | 4.557 | 7.69 | | | 4.719 | 5.39 | | | 4.567 | 5.85 | | | 4.416 | 7.68 | | | 5.021 | 5.59 | | | 4.517 | 5.73 | | | 4.769 | 7.65 | | | 5.525 | 5.47 | | | 4.920 | 5.59 | | | 4.971 | 7.50 (contd) |
Table 13.7 (Cont.) Year | Month | | MR240 | Year | Month | | MR240 | Year | Month | | MR240 | | | 5.273 | 7.62 | | | 9.611 | 9.05 | | | 13.449 | 12.89 | | | 5.324 | 7.51 | | | 8.764 | 8.78 | | | 13.347 | 13.88 | | | 5.879 | 7.61 | | | 9.017 | 8.91 | | | 16.062 | 13.10 | | | 6.081 | 7.80 | | | 10.033 | 9.06 | | | 14.677 | 13.64 | | | 5.576 | 7.75 | | | 10.186 | 9.29 | | | 14.831 | 14.26 | | | 5.778 | 7.95 | | | 11.611 | 10.54 | | | 15.190 | 15.12 | | | 5.980 | 8.09 | | | 10.237 | 10.08 | | | 13.909 | 15.58 | | | 6.081 | 8.16 | | | 10.084 | 10.10 | | | 12.632 | 14.69 | | | 6.434 | 8.28 | | | 11.509 | 11.11 | | | 10.298 | 13.58 | | | 6.182 | 8.31 | | | 13.142 | 12.27 | | | 9.576 | 14.05 | | | 6.434 | 8.47 | | | 15.241 | 12.40 | | | 12.019 | 14.17 | | | 6.535 | 8.63 | | | 9.830 | 10.81 | | | 12.121 | 14.05 | | | 6.535 | 8.56 | | | 7.547 | 10.31 | | | 13.347 | 13.86 | | | 7.648 | 8.38 | | | 6.182 | 10.01 | | | 12.376 | 13.55 | | | 7.851 | 8.57 | | | 7.294 | 10.68 | | | 11.407 | 13.63 | | | 8.865 | 8.86 | | | 9.068 | 11.33 | | | 11.611 | 14.06 | | | 8.814 | 8.73 | | | 10.745 | 11.83 | | | 8.764 | 13.61 | | | 9.865 | 8.96 | | | 11.306 | 12.30 | | | 6.535 | 12.55 | | | 9.474 | 8.84 | | | 15.190 | 12.30 | | | 6.940 | 11.58 | | | 9.373 | 9.09 | | | 11.102 | 11.96 | | | 7.800 | 10.75 | | | 9.627 | 9.01 | | | 13.909 | 12.40 | | | "7.598 | 10.98 | | | 9.474 | 9.21 | | | 14.370 | 13.15 | | | | |
"Short- and long-term interest rates as measured by the 1-month Treasury bill rate and the bonds. Source: David N. DeJong, "Co-integration and Trend Stationary in Macroeconomic Time Working Paper 89-05, University of Iowa, February 1989. monthly yields to maturity of 20-year Treasury Series: Evidence from the Likelihood Function,
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