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Journal Article
Regulation Q and the behavior of savings and small time deposits at commercial banks and thrift institutions
An abstract for this article is not available
Journal Article
The impact of large time deposits on the growth rate of M2
An abstract for this article is not available
Journal Article
Money market mutual funds : a reaction to government regulations or a lasting financial innovation?
An abstract for this article is not available
Journal Article
Average costs of money market mutual funds
An abstract for this article is not available
Journal Article
Treasury bill versus private money market yield curves
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.
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
Are NOWs being used as savings accounts?
Has the introduction of interest-bearing NOW accounts altered the nature of M1? That monetary aggregate, of course, is intended to measure purely transactions balances as typified by conventional checking accounts. But some observers think that consumers are using the NOW component of M1 as savings as well as transactions balances. If so, then M1 contains a nontransactions component; consequently, its growth rate compatible with any given rate of GNP growth is higher than before the introduction of NOWs. In this article, Timothy Q. Cook and Timothy D. Rowe marshal evidence on the use of NOW ...
Journal Article
The reaction of interest rates to the employment report: the role of policy anticipations
Interest rates have reacted strongly to the monthly employment report in recent years. The authors document the reaction of rates to the report and provide evidence that it has been stronger since the mid-1980s than in earlier years. Evidently the report now has greater impact than formerly on expectations of where the Fed is going to move the federal funds rate. These expectations influence longer-term money market rates.
Journal Article
Short-term investment pools
An abstract for this article is not available