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来源类型 | Working Paper |
规范类型 | 报告 |
DOI | 10.3386/w2125 |
来源ID | Working Paper 2125 |
The Response of Interest Rates to the Federal Reserve's Weekly Money Announcements: The \"Puzzle\" of Anticipated Money | |
Richard Deaves; Angelo Melino; James E. Pesando | |
发表日期 | 1987 |
出版年 | 1987 |
语种 | 英语 |
摘要 | Researchers, using the survey conducted by Money Market Services, Inc., have found that the anticipated component in the Federal Reserve's weekly money supply announcement is negatively correlated with the post- announcement change in market yields. We prove that eliminating a (downward) bias in the measure of anticipated money can, in theory, eliminate this puzzle, but that improving the efficiency of an already unbiased measure cannot. We find, using Canadian as well as U.S. interest rate data, that correcting the downward bias in the survey measure reduces, but does not eliminate, the role of anticipated money. |
主题 | Macroeconomics |
URL | https://www.nber.org/papers/w2125 |
来源智库 | National Bureau of Economic Research (United States) |
引用统计 | |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/559379 |
推荐引用方式 GB/T 7714 | Richard Deaves,Angelo Melino,James E. Pesando. The Response of Interest Rates to the Federal Reserve's Weekly Money Announcements: The \"Puzzle\" of Anticipated Money. 1987. |
条目包含的文件 | ||||||
文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
w2125.pdf(212KB) | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 |
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