منابع مشابه
Federal Reserve Information and the Behavior of Interest Rates
This paper tests for the existence of asymmetric information between the Federal Reserve and the public by examining Federal Reserve and commercial inflation forecasts. It demonstrates that the Federal Reserve has considerable information about inflation beyond what is known to commercial forecasters. It also shows that monetary-policy actions provide signals of the Federal Reserve’s informatio...
متن کاملActual Federal Reserve Policy Behavior and Interest Rate Rules
conomists attempting to approximate the policy behavior of the Federal Reserve often have done so by estimating interest rate rules for the United States. In these rules, the variable on the left-hand side is the interest rate that the Federal Reserve is assumed to control, while the variables on the right-hand side are those that are assumed to affect Federal Reserve behavior. There have been ...
متن کاملFederal Reserve Bank of
This paper develops recursive methods for considering stationary sequential equilibria in games with private actions and signals (private monitoring games), where play is assumed not only to continue forever into the future, but is also assumed to have occurred forever into the past. In particular, we develop set-based methods for constructing all pure strategy equilibria of the subclass of str...
متن کاملFederal Reserve Board
Beaudry and Portier (2006) propose an identification scheme to study the effects of news shocks about future productivity in Vector Error Correction Models (VECM). This comment shows that their methodology does not have a unique solution, when applied to their VECMs with more than two variables. The problem arises from the interplay of cointegration assumptions and long-run restrictions imposed...
متن کاملFederal Reserve Bank of Philadelphia
We examine the effects of changes in competitive conditions on the structure of loan contracts. In particular, we present conditions in which greater loan market competition reduces the stringency of contractual collateral requirements, a prediction that is consistent with anecdotal evidence from loan markets. We also analyze the interaction between the degree of competition and the efficiency ...
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ژورنال
عنوان ژورنال: Journal of Behavioral Economics
سال: 1988
ISSN: 0090-5720
DOI: 10.1016/0090-5720(88)90014-9