The Model Structure of Discount Window Borrowing.
This article investigates the specification of discount window borrowing. The author establishes empirically that the borrowing function is heteroskedastic and nonlinear. Subsequently, he proceeds to propose a simple theoretical framework that generates endogenously these anomalies. In particular, the author demonstrates that such phenomena are precipitated by the response of depository institutions to discount credit rationing and Federal Reserve collateral limitations. Copyright 1991 by Ohio State University Press.
Year of publication: |
1991
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Authors: | Peristiani, Stavros |
Published in: |
Journal of Money, Credit and Banking. - Blackwell Publishing. - Vol. 23.1991, 1, p. 13-34
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Publisher: |
Blackwell Publishing |
Saved in:
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