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Keywords:Interest rates 

Working Paper
Sticky inflation and interest rate rules with auction prices

Finance and Economics Discussion Series , Paper 117

Journal Article
Financial innovation and monetary policy

Federal Reserve Bulletin , Issue Jul , Pages 393-400

Journal Article
Measuring the Stance of Monetary Policy on and off the Zero Lower Bound

Taeyoung Doh and Jason Choi propose a new ?shadow? short-term interest rate to measure the stance of policy when the federal funds rate was constrained by the zero lower bound.
Economic Review , Issue Q III , Pages 5-24

Working Paper
Have money-stock fluctuations had a liquidity effect on expected real interest rates?

Working Papers , Paper 88-19

Conference Paper
The use of interest rate futures by commercial banks

Proceedings , Paper 85

Working Paper
On the implementation of Markov-Perfect interest rate and money supply rules : global and local uniqueness

Currently there is a growing literature exploring the features of optimal monetary policy in New Keynesian models under both commitment and discretion. This literature usually solves for the optimal allocations that are consistent with a rational expectations market equiibrium, but it does not study how the policy can be implemented given the available policy instruments. Recently, however, King and Wolman (2004) have shown that a time-consistent policy cannot be implemented through the control of nominal money balances. In particular, they find that equilibria are not unique under a money ...
Working Paper , Paper 09-06

Journal Article
What certificates pay

FRBSF Economic Letter

Journal Article
The changing U.S. financial system : some implications for the monetary transmission mechanism

An important part of monetary policy is the monetary transmission mechanism, the process by which monetary policy actions influence the economy. While the transmission mechanism involves a number of channels, including exchange rates, bank credit, and asset prices, most economists consider interest rates to be the principal avenue by which monetary policy affects economic activity.> In recent decades, significant changes in the structure of financial markets and institutions in the United States may have altered the interest rate channel. Key developments include the deregulation of the ...
Economic Review , Volume 87 , Issue Q I , Pages 5-35

Working Paper
Fiscal positions and government bond yields in OECD countries

We examine the impact of fiscal positions, both the level of debt and the fiscal balance, on long-term government bond yields in the OECD. In order to control for the endogenity of fiscal positions to the business cycle we utilize forward projections of fiscal positions from the OECD's Economic Outlook. In a panel regression over the period from 1988 to 2007, we find a robust and significant effect of fiscal performance on long-term bond yields. Our estimates imply that the marginal effect of the projected deterioration of fiscal positions associated with the recent financial crisis is to add ...
International Finance Discussion Papers , Paper 1011

Journal Article
The behavior of the spread between Treasury bill rates and private money market rates since 1978

An abstract for this article is not available.
Economic Review , Volume 69 , Issue Nov , Pages 3-15

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