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. Consistency of the dating estimators is established and the limit theory addresses new complications arising from the alternative …
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. Consistency of the dating estimators is established and the limit theory addresses new complications arising from the alternative …
Persistent link: https://www.econbiz.de/10014140129
We apply a discrete choice approach to model the empirical behavior of the Federal Reserve in changing the federal funds target rate, the benchmark of short term market interest rates in the US. Our methods allow the explanatory variables to be nonstationary as well as stationary. This feature...
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