| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3287 |
| DP3287 Informational Cascades and Decision to Migrate | |
| Gil S Epstein | |
| 发表日期 | 2002-03-20 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | We study the interbank markets for overnight loans of the major industrial countries, linking the behaviour of short-term interest rates to the operating procedures of these countries? central banks. We find that many of the key behavioural features of US federal funds rates, on which previous studies have focused, are not robust to changes in institutional details, along both cross-sectional and time-series dimensions of the data. Our results indicate that central banks? operating procedures and intervention styles play a crucial role in shaping empirical features of short-term interest rates? day-to-day behaviour in industrial countries. |
| 主题 | Financial Economics ; International Macroeconomics |
| 关键词 | Interest rates Reserve requirements Central bank operating procedures |
| URL | https://cepr.org/publications/dp3287 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/532312 |
| 推荐引用方式 GB/T 7714 | Gil S Epstein. DP3287 Informational Cascades and Decision to Migrate. 2002. |
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