The information content of central bank interest rate projections: Evidence from New Zealand pot
The information content of central bank interest rate projections: Evidence from New Zealand pot
... and the behavior of long-term interest rates in
New Zealand.
The role of interest rate projections for market expectations should be revealed by the
response of futures rates. Irrespective of the ... logarithmic
market open rate at Bloomberg L.P.
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SFB 649 Discussion Paper 2011-032
The information content of
central bank interest...
How and Why Do Small Firms Manage Interest Rate Risk? Evidence from Commercial Loans pot
... by the large decline in the fixed rate share in the early
part of the sample, I generate a dummy equal to 1 in the second half of the sample, and re-estimate all four
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5.2 Evidence from the ... -0.029 67 Holding and other investment offices 0.232
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The interest sensitivity variable is a generated regressor in the sense of Pagan (1984). The hypothes...
Anticipation and Surprises in Central Bank Interest Rate Policy ppt
... interest rates it envisages. The “news” contained in
the announcement on day t of the precise magnitude of a change in official
rates may be of less relevance. The reaction to the evolution of ... 1995
Lombard rate
Discount rate
3-month interest rate
official interest rate s
τ
that exactly determines the current overnight inter-
bank interest rate, which...
THE POLITICAL ECONOMY OF CENTRAL-BANK INDEPENDENCE pptx
... Appointment of bank officials. In New Zealand, both the minister
of finance and the board of the central bank must ratify the appointment
of the governor (double veto). Board appointments are made by the
finance ... independent central banks, the Deutsche Bundesbank,
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the Nederlandsche Bank, and the Reserve Bank of New Zealand,
exemplify the v...
Central Bank Interest-Rate Control in a Cashless, Arrow-Debreu economy: a comment on Wallace pptx
... points to the arbitrary nature of the interest rate factor R and uses that
property of the model to justify a role for the central bank in setting the nominal
interest rate to determine the price ... the problems that the functions of
money solve in the real world the problem of the double coincidence of wants, the
need for a store of value an...
Central-Bank Interest-Rate Control in a Cashless, Arrow-Debreu Economy pot
... seems that the nominal
interest rate can be anything. Therefore, there would seem to be scope for
an outside entity, the central bank, to choose the nominal interest rate. One
way to think of a cen ... that the central bank can determine the nominal
interest rate without providing a proof that there exists such an equilibrium.
Theknownexistenceresultsareforversio...
Working PaPer SerieS no 967 / november 2008: Central bank miSPerCePtions and the role of money in interest rate rules pptx
... models. In these models
changes in the nominal interest rate influence the real interest rate due to the presence of price
rigidities; the real interest rate determines the level of output; and the gap ... cental bank s estimate of the cost-push shock. We assume that
these perceptions represent the best available estimates of the unobservable variables f...
Monetary Policy under Zero Interest Rate: Viewpoints of Central Bank Economists doc
... structure of
interest rates holds, then the effectiveness of such operations does not come from the
effect of the outright purchase of long-term government bonds but is dependent on
whether the central ... in the case of an experiment to discover whether long-term
interest rates are controllable, significant factors on the effectiveness of the operation
inclu...
PROTOCOL ON THE STATUTE OF THE EUROPEAN SYSTEM OF CENTRAL BANKS AND OF THE EUROPEAN CENTRAL BANK pdf
... Republic of Estonia, the
Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania, the Republic of Hungary, the Republic of Malta, the Republic of
Poland, the Republic of Slovenia and the ... conditions of Accession of the Czech Republic, the Republic of Estonia, the Republic of
Cyprus, the Republic of Latvia, the Republic of...
Retail Bank Interest Rate Pass-Through: The Turkish Experience pptx
... adjustment of interest rates to money market rate. Most central banks use a short-term
interest rate as their instrument of monetary policy. Changes to this short term interest rate are the first ... earnings of banks from loans market are a function of interest rate on loans since
probability of default of borrower is increasing with higher interest rates....
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