Published Classic American Economic Review Published Feb 2005The Sensitivity of Long-Term Interest Rates to Economic News: Evidence and Implications for Macroeconomic ModelsRefet S. Gürkaynak · Brian Sack · Eric SwansonThis 2005 American Economic Review paper by Refet Gürkaynak, Brian Sack, and Eric Swanson asks whether long-term forward interest rates respond to daily macroeconomic and monetary-policy news, a …