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Do productivity growth, budget deficits, and monetary policy actions affect real interest rates? evidence from macroeconomic announcement data

Kliesen, Kevin L.; Schmid, Frank A. - Federal Reserve Bank of St. Louis - 2004

Real-business-cycle models suggest that an increase in the rate of productivity growth increases the real rate of interest. But economic theory is ambiguous when it comes to the effect of government budget deficits on the real rate of interest. Similarly, little is known about the effect of...

Persistent link: https://www.econbiz.de/10005352806

On the response of interest rates to unexpected weekly money: are policy changes important?

Sheehan, Richard G.; Hafer, R.W. - Federal Reserve Bank of St. Louis - 1987

Persistent link: https://www.econbiz.de/10005360574

Monetary policy and the determination of the interest rate and exchange rate in a small open economy with increasing capital mobility

Ahn, Byung Chan - Federal Reserve Bank of St. Louis - 1994

This paper presents a general model of the determination of the interest rate and the exchange rate which is relevant for a small economy with any degree of capital mobility. The model is tested by using the quarterly data of Korea and Singapore. The emperical results show that in the Korean...

Persistent link: https://www.econbiz.de/10005360575

Structural breaks and regional disparities in the transmission of monetary policy

Owyang, Michael T.; Wall, Howard J. - Federal Reserve Bank of St. Louis - 2004

Using a regional VAR, we find large differences in the effects of monetary policy shocks across regions of the United States. We also find that the region-level effects of monetary policy differ a great deal between the pre-Volcker and Volcker-Greenspan periods in terms of their depth and...

Persistent link: https://www.econbiz.de/10005360583

A new federal funds rate target series: September 27, 1982, - December 31, 1993

Thornton, Daniel L. - Federal Reserve Bank of St. Louis - 2005

This paper creates a new series of the FOMC*s Target for the federal funds rate for the period September 27, 1982 through December 31, 1993. The creation of this series was motivated by Thornton (2005). Analyzing the verbatim transcripts of the FOMC, Thornton finds that most of the FOMC believed...

Persistent link: https://www.econbiz.de/10005352810

Predictions of short-term rates and the expectations hypothesis of the term structure of interest rates

Thornton, Daniel L. - Federal Reserve Bank of St. Louis - 2005

Despite its important role in macroeconomics and finance, the expectations hypothesis (EH) of the term structure of interest rates has received little empirical support. While the EH*s poor performance has been attributed to a variety of sources, none appear to account for the EH*s poor...

Persistent link: https://www.econbiz.de/10005352812

The daily liquidity effect

Thornton, Daniel L. - Federal Reserve Bank of St. Louis - 2006

evidence of the liquidity effect could be obtained with the use of high-frequency (daily) data. Thornton*s (2001a) detailed … unimportant daily liquidity effect. Recently, Carpenter and Demiralp (2006) report "clear evidence" of a daily liquidity effect … liquidity effect using Carpenter and Demiralp*s new measure. …

Persistent link: https://www.econbiz.de/10005352851

The inflationary effects of the use of reserve ratio reductions, or open market purchases, to reduce market interest rates: a theoretical comparison

Russell, Steven; Espinosa, Marco - Federal Reserve Bank of St. Louis - 1990

Persistent link: https://www.econbiz.de/10005352880

The first phase of the U.S. recovery and beyond

Bullard, James - Federal Reserve Bank of St. Louis - 2010

Delivered at The Global Interdependence Center 2010 International Conference Series, Part II-China "Financial Interdependence in the World's Post-Crisis Capital Markets."

Persistent link: https://www.econbiz.de/10010727291

The U.S. economy in the aftermath of the financial crisis

Bullard, James - Federal Reserve Bank of St. Louis - 2012

March 2, 2012. Presentation. "The U.S. Economy in the Aftermath of the Financial Crisis." Presented at the Bank of Montreal Lecture in Economics, Simon Fraser University, Vancouver, British Columbia.

Persistent link: https://www.econbiz.de/10010727295