Showing 1 - 10 of 96
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
Since the Federal Open Market Committee (FOMC) began announcing its policy decisions in 1994, U.S. stock returns have on average been more than thirty times larger on announcement days than on other days. Surprisingly, these abnormal returns are accrued before the policy announcement. The excess...
Persistent link: https://www.econbiz.de/10009321122
We develop a model of the market for federal funds that explicitly accounts for its two distinctive features: banks have to search for a suitable counterparty, and once they have met, both parties negotiate the size of the loan and the repayment. The theory is used to answer a number of positive...
Persistent link: https://www.econbiz.de/10010551300
While many analyses of monetary policy consider only a target for a short-term nominal interest rate, other dimensions of policy have recently been of greater importance: changes in the supply of bank reserves, changes in the assets acquired by central banks, and changes in the interest rate...
Persistent link: https://www.econbiz.de/10008598715
Introductory Remarks for the Panel Discussion Sponsored by the Heller-Hurwicz Economics Institute and the Economic Club of Minnesota at the University of Minnesota, Minneapolis.
Persistent link: https://www.econbiz.de/10010724935
Remarks at the Transatlantic Economic Interdependence and Policy Challenges Conference, Federal Reserve Bank of New York, New York City.
Persistent link: https://www.econbiz.de/10010724936
Remarks at the ACI 2010 World Congress, Sydney, Australia.
Persistent link: https://www.econbiz.de/10010724944
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 Dominican College, Orangeburg, New York.
Persistent link: https://www.econbiz.de/10010724948
Remarks at the Future of Banking Regulation and Supervision in the EU Conference, Frankfurt, Germany.
Persistent link: https://www.econbiz.de/10010724953