The US Interest Rate Conundrum and its Implications for Australia

该项目概括了现有的利率因素模型。该项目将在国内和国际上产生若干惠益。由于美国利率和美国货币政策是澳大利亚利率的重要决定因素，该项目将有助于加深对利率挂钩国际机制的理解。这也将提供一个更好的框架，以了解和监测澳大利亚的货币政策。该项目的一个重要方面是开发新的测试程序，改进现有的非参数方法。

The project generalises existing factor models of interest rates. The project will result in several benefits nationally as well as internationally. As U.S. interest rates and U.S. monetary policy in general are important determinants of interest rates in Australia, the project will lead to an improved understanding of the international mechanism linking interest rates. This will also provide a better framework in which to understand and monitor monetary policy in Australia. An important aspect of the project is the development of new testing procedures that improve upon existing nonparametric methods.