Bluedorn, John Christopher (contributor); … - 2006
depreciation, but the
timing and magnitude of the depreciation varies across studies (e.g., Eichenbaum and
Evans [1995]; Kim and … studies [Kim, 2001], while others indicate that foreign rates fall initially and then
converge back to their long-run levels … rate [Meulendyke, 1998].1
Consequently, the majority of studies employ the federal funds rate as their measure
of U …