On 1 January 1981, banks and savings and loans in the United States started to compete nationwide for chequing account deposits. Prior to this date, in areas outside the New England region, banks and credit unions were the only institutions allowed to offer transaction accounts. A study carried...

This note examines how the DEM/USD rate and US short-term and long-term interest rates respond to the release of payroll announcements. In contrast to a recent paper by Edison (1997), who employs a linear econometric model, we test the influence of news by comparing the absolute values of the...

Economic theory predicts a negative relationship between inventories and the real interest rate, but previous empirical studies (mostly based on the older stock adjustment model) have found little evidence of such a relationship. We derive parametric tests for the role of the interest rate in...