Search Results
Journal Article
The impact of large time deposits on the growth rate of M2
An abstract for this article is not available
Journal Article
Interest rate expectations and the slope of the money market yield curve
An examination of the relationship between yield and maturity in the money market. The expectations theory suggests that the yield curve should be a good predictor of future spot interest rates. A substantial body of research in recent years has tested this implication of the theory and discussed possible reasons for the lack of support for the theory from these tests. This paper provides a review of this literature.
Working Paper
The information content of discount rate announcements and their effect on market interest rates
This paper presents evidence that throughout the 1973-85 period the Federal Reserve systematically used certain types of discount rate announcements to signal changes in its policy instrument, the Federal funds rate. Market participants understood the signals contained in discount rate announcements and used them to revise their expectations of the future path of the funds rate. These revisions in funds rate expectations caused movements in Treasury bill rates. The paper also presents evidence that discount rate announcements signaling changes in the funds rate had a strong effect on bond ...
Journal Article
Average costs of money market mutual funds
An abstract for this article is not available
Journal Article
The 1983 M1 seasonal factor revisions : an illustration of problems that may arise in using seasonally adjusted data for policy purposes
Most Economists agree that the monetary aggregate targeted by the Fed should be measured in seasonally adjusted form so that predictable seasonal movements in the money stock are not transmitted unnecessarily to interest rates. However, seasonal adjustment procedures are far from perfect and can distort the true movement of a variable or even impact an artificial seasonality where none exists. In his article, The 1983 M1 Seasonal Factor Revisions: An Illustration of Problems That May Arise in Using Seasonally Adjusted Data for Policy Purposes, Timothy Q. Cook contends that seasonal adjustment ...
Journal Article
Short-term investment pools
An abstract for this article is not available
Journal Article
Determinants of individual tax-exempt bond yields : a survey of the evidence
An abstract for this article is not available.
Journal Article
Net corporate saving in the 1970's
An abstract for this article is not available.
Journal Article
The relationship between the discount rate and the federal funds rate under the Federal Reserve's post-October 6th 1979 operating procedure
An abstract for this article is not available.