Showing 1 - 10 of 73
We use daily data on bank reserves and overnight interest rates to document a striking pattern in the high-frequency behavior of the U.S. market for federal funds: depository institutions tend to hold more reserves during the last few days of each "reserve maintenance period", when the...
Persistent link: https://www.econbiz.de/10001512195
Persistent link: https://www.econbiz.de/10001512206
The Eurosystem and the U.S. Federal Reserve System follow quite different approaches to the execution of monetary policy. The former institution adopts a "hands-off" approach that largely delegates to depository institutions the task of stabilizing their own liquidity at high frequency. The...
Persistent link: https://www.econbiz.de/10001752004
"This paper develops a new approach to change-point modeling that allows for an unknown number of change points in the observed sample. Our model assumes that regime durations have a Poisson distribution. The model approximately nests the two most common approaches: the time-varying parameter...
Persistent link: https://www.econbiz.de/10002521761
The recent crisis highlighted the importance of globally active banks in linking markets. One channel for this linkage is the liquidity management of these banks, specifically the regular flow of funds between parent banks and their affiliates in diverse foreign markets. We use the Great...
Persistent link: https://www.econbiz.de/10009292978
Remarks at the New York Bankers Association Financial Services Forum, New York City.
Persistent link: https://www.econbiz.de/10010724934
Remarks at the New York Bankers Association's 2013 Annual Meeting & Economic Forum, The Waldorf Astoria, New York City.
Persistent link: https://www.econbiz.de/10010724939
Remarks at the Global Association of Risk Professionals 12th Annual Risk Management Convention, New York City.
Persistent link: https://www.econbiz.de/10010724946
Remarks at the New York Association for Business Economics, New York City.
Persistent link: https://www.econbiz.de/10010724959
Testimony of Thomas C. Baxter, Jr., and Scott G. Alvarez, General Counsel of the Board of Governors, before the Subcommittee on Domestic Monetary Policy and Technology, Committee on Financial Services, U.S. House of Representatives, Washington, D.C.
Persistent link: https://www.econbiz.de/10010724964