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
Market reaction to monetary policy nonannouncements
Sellon, Gordon H.; Roley, V. Vance (1998)
This paper examines how Treasury security yields, stock prices, and federal funds futures rates respond on Federal Open Market Committee (FOMC) meeting dates when expected policy actions do not occur. The empirical results support the existence of nonannouncement effects on short- and intermediate-term yields. In particular, part of an expected policy action, measured using federal funds futures rates, is unwound when the action does not materialize. This partial unwinding is consistent with markets reacting to the surprise by postponing, but not eliminating, the possibility of a future ...
Research Working Paper , Paper 98-06

Conference Paper
The response of interest rates to money announcements under alternative operating procedures and reserve requirement systems
Roley, V. Vance (1985)
Proceedings , Issue 7 , Pages 127-160

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

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

Journal Article
Weekly money supply announcements and the volatility of short-term interest rates
Roley, V. Vance (1982-04)
Economic Review , Volume 67 , Issue Apr , Pages 3-15

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
The response of the term structure of interest rates to federal funds rate target changes
Sellon, Gordon H.; Roley, V. Vance (1996)
In this paper, we first specify a theoretical model of the term structure's response to federal funds rate target changes. The model considers not only the immediate response to target changes, but also the response in anticipation of a policy change. The model is then estimated over the 1974-79 and 1987-95 periods, and the model's restrictions cannot be rejected. The results suggest that policy changes have become more predictable since 1987, causing more of the target change to be reflected in market yields before the policy action is taken. The results also suggest that the economic shocks ...
Research Working Paper , Paper 96-08

Journal Article
The financing of federal deficits: an analysis of crowding out
Roley, V. Vance (1981-07)
Economic Review , Volume 66 , Issue Jul , Pages 16-29

Journal Article
The impact of new economic information on the volatility of short-term interest rates
Troll, Rick; Roley, V. Vance (1983-02)
Economic Review , Volume 68 , Issue Feb , Pages 3-15