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In this paper, I employ anonymous New York City yellow taxi records to infer variation in interactions between insiders of the Federal Reserve Bank of New York (New York Fed) and insiders of major commercial banks around Federal Open Market Committee (FOMC) meetings. Taxi rides between the...
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react to stale information, causing momentum, followed by reversals. Hence, skepticism generates both momentum and reversals …
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-Jørgensen (2018) argue that private, informal channels systematically carry Federal Reserve information to markets around monetary … information to flow to markets along informal or discreet channels …
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