Journal Article
Monetary policy actions and long-term interest rates
Sellon, Gordon H.; Roley, V. Vance (1995-10)
It is generally believed that monetary policy actions are transmitted to the economy through their effect on market interest rates. According to this standard view, a restrictive monetary policy by the Federal Reserve pushes up both short-term and long-term interest rates, leading to less spending by interest-sensitive sectors of the economy such as housing, consumer durable goods, and business fixed investment. Conversely, an easier policy results in lower interest rates that stimulate economic activity. Unfortunately, empirical studies and the observed behavior of interest rates appear to ...
Economic Review , Volume 80 , Issue Q IV , Pages 73-89

Journal Article
The demand for M1 by households: an evaluation of its stability
Roley, V. Vance (1985-04)
Economic Review , Volume 70 , Issue Apr , Pages 17-27

Working Paper
News from the U.S. and Japan: which moves the yen/dollar exchange rate?
Ito, Takatoshi; Roley, V. Vance (1986)
Research Working Paper , Paper 86-02

Working Paper
Stock prices, news, and business conditions
McQueen, Grant; Roley, V. Vance (1990)
Research Working Paper , Paper 90-04

Working Paper
The effect of monetary policy actions on exchange rates under interest-rate targeting
Roley, V. Vance; Bonser-Neal, Catherine; Sellon, Gordon H. (1997)
One puzzling feature of recent empirical studies of the effects of monetary policy changes on exchange rates is the result that the exchange rate does not adjust immediately to the policy shock. Instead, these studies find that it can take as long as two years for the exchange rate to fully reflect the policy change. In this paper, a model of the exchange-rate response to U.S. monetary policy actions which captures these results is specified. This model is also capable of generating standard overshooting results. The authors show that the response pattern of spot and expected future exchange ...
Research Working Paper , Paper 97-05

Working Paper
Intraday yen/dollar exchange rate movements: news or noise?
Ito, Takatoshi; Roley, V. Vance (1988)
Research Working Paper , Paper 88-07

Working Paper
U.S. monetary policy regimes and U.S.-Japan financial relationships
Roley, V. Vance (1986)
Research Working Paper , Paper 86-03

Journal Article
Federal debt management policy: a re-examination of the issues
Roley, V. Vance (1978-02)
Economic Review , Volume 63 , Issue Feb , Pages 14-23

Working Paper
Firm characteristics, unanticipated inflation, and stock returns
Pearce, Douglas K.; Roley, V. Vance (1988)
Research Working Paper , Paper 88-01

Working Paper
Are Japanese interest rates too stable?
Roley, V. Vance; Bonser-Neal, Catherine (1994)
Research Working Paper , Paper 94-09