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Outline of the Study
Summary and Conclusions
7 other sections not shown
basis points bill rate billion borrowed reserves C.I. for gain ceiling rate coherence 95 commercial loans commercial-loan rate countercyclical credit-market lag cross-spectra currency cycle cyclical pattern demand deposits discount rate Distributed Lags econometric model Economics and Statistics effect of monetary elasticity endogenous variables equation Federal Reserve System Filtered Data financial sector free reserves frequency band corresponding frequency-response coefficients function government debt increase input series inside lag instrumental variables intermediate targets Journal of Finance lag composition lag distribution lag response long-term interest rates long-term rates maturity structure member banks monetary base Monetary Policy money stock money supply monthly model months NBRC nonborrowed base output series Pair-wise coherence peak percent period Phase in weeks policy action policy instruments power spectra proxy variable quarterly reserve requirements respect Review of Economics short-term rates spectral analysis structural parameters Table target variables technique total effect weekly model