Kia, Amir - Carleton University, Department of Economics - 2005
found that the agents in the money market are forward looking and that the more transparent the monetary policy is, the less … risky and volatile the money market will be. Furthermore, during the tenure of Chairman Greenspan, the volatility and risk … in the money market fell. The policy regime changes of adjusting the target rate by multiples of 25 or 50 basis points …