Search Results

Showing results 1 to 5 of approximately 5.

(refine search)
Author:Rousseau, Peter L. 

Journal Article
Liquidity effects in the bond market

The authors find that supply risk in the market for Treasury bills adds between 10 basis points and 40 basis points to the standard deviation of the T-bill interest rate. The risk will probably increase unless the Fed expands the set of assets that it uses to conduct open market operations.
Economic Perspectives , Volume 25 , Issue Q IV , Pages 17-35

Journal Article
Interest rates and the timing of new production

This article studies the relation between IPO investment and the rate of interest. The 1950s and early 1960s, especially, were periods of very low real interest rates, and IPO investment was very low, with firms delaying their IPOs significantly. The authors find a qualitative difference between investment of IPO-ing firms and the investment of incumbent firms. The latter is decreasing in the interest rate, as neoclassical theory predicts. On the other hand, very low interest rates tend to discourage IPOs, and this may be why the 1950s and 1960s contained few IPOs.
Economic Perspectives , Volume 28 , Issue Q IV , Pages 2-11

Journal Article
What can US History Tell Us About the European's Prospects for Survival?

Forefront , Issue Spring , Pages 13-15

Conference Paper
Vintage organization capital

We argue that a firm's organization capital depends on the state of technology when the firm was born and on the technologies that have followed. We estimate vintage effects on the value of firms from 114 years of stock market data. We find: 1) a surprisingly strong upward trend in the stock-market share of the largest firms, 2) a very large quantity of organization capital created by the 1920's vintage, 3) strong indications that the 1970's and 1980's vintages will be followed by more complementary technologies, and 4) major technological change since WW2 in the process by which organization ...
Proceedings , Issue Apr

Journal Article
Historical perspectives on financial development and economic growth

Review , Volume 85 , Issue Jul , Pages 81-106



FILTER BY Content Type


FILTER BY Keywords