federal funds target rate
Estimating Monetary Policy Reaction Functions Using Quantile Regressions
... the Federal Reserve responded more aggressive to inflation and less to the output gap during upward deviations from a monetary policy reaction function estimated at the mean and the other way around during ...
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The evolving role and definition of the federal funds rate in the conduct of U S monetary policy
... the funds rate and the behavior of other aggregate time ...the funds rate is best classified as instrument, intermediate target or indicator variable of the Federal Reserve’s ...
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The federal funds rate in the post Volcker era: evidence from Basic VAR
... the federal funds rate as the main target of analysis, inflation and unemployment as the macroeconomic ...the funds rate and the two real-economy variables – inflation and ...
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Monetary Policy Evaluation in Real Time: Forward Looking Taylor Rules Without Forward Looking Data
... When the authors allowed U.S. monetary policy to affect the Bundesbank’s reaction function through the Federal Funds Rate and the U.S. dollar/Deutche Mark real exchange rate, they found both ...
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The U S foreclosure crisis: a two pronged assault on the U S economy
... the federal funds rate target and they continued to fall, and by more than the Fed cuts, at least until recently, when inflation and policy risk scares began to push rates higher, at least ...
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The Effects of the Content of FOMC Communications on US Treasury Rates
... of Federal Open Market Committee text content on the direction of short- and medium-term interest rate ...interest rate movements, and our prediction results average across multiple training-test ...
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Anticipation of Monetary Policy and Open Market Operations
... the federal funds market, the overnight loans of balances on deposit at the Federal ...the Federal Reserve Bank of New York in order to push trading in the market toward the target ...
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Federal funds rate prediction
... FF rate in sample and that accounting for nonlinearity in the unknown true data generating process governing the FF rate may yield satisfactory characterizations of the time-series properties of the FF ...
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Central bank – the root cause of poverty, tax, and deficit
... the funds rate has “important predictive content for ...manipulating federal funds rate. As the funds rate increases other interest rates also increase and thus the ...
15
Discrete-response state space models with conditional heteroscedasticity: An application to forecasting the federal funds rate target
... We propose a state space mixed model with stochastic volatility for ordinal-response time series data. For parameter estimation, we design an efficient Markov chain Monte Carlo algorithm. We illustrate our method with an ...
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Explaining ECB and Fed interest rate correlation: Economic interdependence and optimal monetary policy
... interest rate by the central banks to other macroeconomic ...interest- rate chosen by the other one or by both central banks reacting to the same or similar macroeconomic variables, perhaps with different ...
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Regime dependent effects of monetary policy shocks Evidence from threshold vector autoregressions
... (e.g. Christiano et al., 1999). We use quarterly observations from 1965Q3 to 2007Q2 on real GDP, the GDP deflator and the monetary aggregate M1. The indicator for monetary policy is the Federal Funds ...
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Estimates of the demand for US consumer borrowings
... r (real 3-years constant maturity rate; model 2), r 10Y (real 10-year constant to maturity rate; model 3). This is done to examine whether the borrowers respond more to shorter or longer interest rates ...
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Monetary Policy, Term Structure and Asset Return: Comparing REIT, Housing and Stock
... We then conduct impulse responses for the (1) model. Throughout this paper, as in many papers, the vertical axis measures the percentage change of the variable relative to its own steady state value. The convention ...
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The High Levels of Excess Reserves 2008 2012: An Investigation into the Determinants of the U S Banks' Liquidity Hoarding during the Global Financial Crisis
... the Federal Reserve feel the need to take such dramatic action and give banks such high amounts of reserves? We must look at the Fall of 2007 to understand the circumstances that brought us here ...the ...
8
The Instability in the Monetary Policy Reaction Function and the Estimation of Monetary Policy Shocks
... emphasized by Bernanke and Mihov (1998), who state that the federal funds rate should not be used as a monetary policy indicator for the time period between 1979 and 1982. Although the Chow test of a ...
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The E Monetary Theory
... the federal funds rate is committed at the lower bound, the higher is inflation in the short ...short-term rate near zero for a long time pushes down the loan rate ...short-term ...
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THE PEDIATRICIAN AND THE PUBLIC
... fect between university departments of pediatrics and those who are responsible for the distribution of federal funds or that funds are given without any restriction. It does[r] ...
5
The Taylor rule and interest rate uncertainty in the U S 1970 2006
... Figure 5 shows the various elements of the two-period forecast uncertainty about the Federal Funds Rate. The time series of uncertainty about the reaction function coefficients is very similar to the ...
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Essays on multi-sector macroeconomic models for policy analysis
... interest rate policy; (iv) a detailed fiscal policy whereby the govern- ment purchases goods and services, provides transfers and finances the bud- get with a mixture of debt of different maturities and ...
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