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Can expectations alone explain the yield differentials among bonds of different maturities? To what extend do attitudes toward risk and transactions costs influence the behavior of bond investors? Is it possible for the Federal Reserve to "twist" the interest-rate structure in accordance with its policy objectives? These are among the questions treated.

Originally published in 1966.

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Table of Contents

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  1. Cover
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  1. Title Page, Copyright
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  1. Preface
  2. pp. vii-ix
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  1. Contents
  2. pp. xi-xv
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  1. List of Figures
  2. pp. xvii-xviii
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  1. List of Tables
  2. pp. xix-xx
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  1. 1. The Yield Curve: Methods of Construction and Historical Patterns
  2. pp. 1-16
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  1. 2. The Traditional Expectations Theory and Its Critics
  2. pp. 17-49
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  1. 3. An Alternative Formulation of the Expectations Theory
  2. pp. 50-81
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  1. 4. An Empirical Test of the Reformulated Expectations Hypothesis
  2. pp. 82-101
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  1. 5. Transactions Costs and the Term Structure of Interest Rates
  2. pp. 102-143
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  1. 6. Modifications for Institutional Preferences and Diverse Expectations: Some Empirical Evidence on Behavior Patterns
  2. pp. 144-180
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  1. 7. A Synthesis of the Expectations and Institutional Theories
  2. pp. 181-213
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  1. 8. Summary and Policy Implications
  2. pp. 214-247
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  1. Glossary
  2. pp. 248-252
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  1. Bibliography
  2. pp. 253-260
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  1. Index
  2. pp. 261-271
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