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Journal Article
Change to 4 1/2% effective November 6, 1991
Journal Article
The discount rate and market interest rates: theory and evidence
Journal Article
Changed to 6% effective July 11, 1986
Working Paper
Discount rate policies of five Federal Reserve Chairmen
This paper investigates the discount rate policies of five Federal Reserve chairmen: Martin, Burns, Miller, Volcker and Greenspan. Both in terms of the reasons given for making discount rate changes and the frequency of discount rate changes, the discount rate policies of Martin and Greenspan were very similar, as were those of Burns and Volcker. The discount rate policy of Chairman Miller differed from either of these groups. Measured by the money market's response to discount rate changes, the discount rate policy of Burns and Volcker was the most effective and Miller's the least effective. ...
Journal Article
Penalty discount rate: I