There has been much debate within the FOMC committee on when to raise the target rate from the 0 to 25 basis points range (zero lower bound) and the information conveyed to the financial community. This paper uses a recursive vector autoregressive model to examine the impact of an increase in...

Purpose: After a seven-year period of being stuck in the zero lower bound (ZLB) range, the target rate was raised by 25 basis points on December 16, 2015. Prior to the rate hike, the important issues that the Federal Reserve dealt with were the magnitude, timing, and the information conveyed by...

This study investigates the extent to which Mexican workers’ remittances are affected from the recent housing market decline in the United States. Results from a multivariate model reveal that an increase in the national U.S. foreclosure rate has a negative and statistically significant impact...