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short‐run Fisher relationships. Applies them to the UK, USA, Canada and Japan, using 1978‐1997 monthly data and Eurocurrency … relationship for all four currencies in the long run; and for the UK and Japan but not for Canada in the short run, with …
Persistent link: https://www.econbiz.de/10014940346
Explains the rating system for US municipal bonds and its effect on borrowing costs, reviews relevant research and provides a study of the factors affecting grading by rating agencies in Virginia using 1995 data. Explains the methodology and presents the results, which identify five significant...
Persistent link: https://www.econbiz.de/10014939618
Outlines previous research on the impact of US Federal Reserve policies on market interest rates and returns; and the relationship between interest rates and market returns. Investigates these effects over three time periods: Sept 1974‐Oct 1979 (interest rate targeting through the federal...
Persistent link: https://www.econbiz.de/10014940342
Reviews previous research on the announcement effects of changes in US Federal Reserve policies and presents a study of the impact of federal funds rate and discount rate changes since the current chairman took office (1988) on the treasury bills/bonds and stock markets. Uses event study...
Persistent link: https://www.econbiz.de/10014940343
Outlines Heath, Jarrow and Morton’s (1992) method (MJM) for modelling interest rates and refers to other research showing that although it is generally non‐Markov, this can be modified if the volatility structure depends on relative maturity term rather than calendar maturity date. Develops...
Persistent link: https://www.econbiz.de/10014940358
strategic plans. Finds that Canada uses derivatives more than Europe or the USA; that most Canadian and European treasuries …
Persistent link: https://www.econbiz.de/10014939493
Explains that Canada is currently deciding whether to harmonize with US or international accounting standards and …
Persistent link: https://www.econbiz.de/10014939609
The fact that stocks going ex‐dividend decline in price by less than the dividend amount is theoretically attributed to … jurisdiction of the marginal investor. The stock price changes relative to the dividends are consistent with a tax clientele effect …. Further, the stock price changes are plausible given the tax rates. Ex‐dividend day behavior is different for non …
Persistent link: https://www.econbiz.de/10014939660
Persistent link: https://www.econbiz.de/10011714338
Persistent link: https://www.econbiz.de/10000369668