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structure, I find that the average monthly interest rates implied by the expectations theory is consistent with the pattern of …
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structure, I find that the average monthly interest rates implied by the expectations theory is consistent with the pattern of …
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We test the expectations hypothesis by analyzing changes in three month T-Bill rates (TB3) after FOMC meetings. By estimating the revisions in expectations of future overnight rates, we find a one-to-one relationship between changes in TB3 and path revisions. -- Expectations Hypothesis ; Policy...
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