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Journal Article
When is the prime rate second choice?
Journal Article
The changing role of the prime rate
Journal Article
Commercial paper, commercial banks
Journal Article
Costs, competition and the prime
Journal Article
The persistence of the prime rate
Journal Article
Is the prime rate too high?
Working Paper
When does the prime rate change?
Journal Article
The prime rate and the cost of funds: is the prime too high?
Working Paper
Asymmetry in the prime rate and firms' preference for internal finance
This article tests for asymmetry in thebehavior of bank lending rates by testing the hypothesis that the prime rate responds more fully and quickly to increase than decreases in market interest rates. The econometric methodology used is better suited to the discreteness and rigidity of the prime rate than that of previous studies. Our results suggest that banks adjust the prime rate asymmetrically in response to change in the discount rate, the commercial paper rate, and the spread between the prime and commercial paper rates. Asymmetry in bank lending rates is implied by several explanations ...
Working Paper
Who changes the prime rate?