... effects on therateof latency transition (Table 2) Therefore, besides the M at position 149, deviations from the serpin consensus in the hF/s3Aloop of PAI-1 does not contribute to therateof latency ... 5), andthe salt-bridge between E132 and R135 [18] contribute to the thermodynamic stability ofthe stressed conformation and/ or are important for the positioning of hF in a way delaying the ... stabilize the stressed conformation ofthese serpins by relieving the strain of side chain overpacking between the K325 side chain and residues in the hF/s3A-loop, i.e the conserved I150 and L153...
... log oftheinterest rate, which is positive and highly significant The inclusion oftheinterestrate variable reverses the sign on the variable rate dummy variable, which is now negative and ... in the modelling The price lenders have to pay for their funding is a key variable ofinterest in the analysis In the case of Ireland up to the end of 2008, lenders tended to use the ECB base rate ... shows a cross-plot ofthe standard variable rate against the arrears rate for the 2009 to 2011 period A cross-plot of variable rates and arrears for the earlier period up to the end of 2008 would...
... outside the entrance to a church The men and JACKIE ROBINSON women talked softly; anonymous black cars thrummed their motors softly; pink and white flowers were piled softly into the crooks ofthe ... But the Yankees were the gold standard, the Cadillac, the National Gallery, the Garbo’s salary, the cellophane of franchises Youngsters growing up on the plains of Oklahoma, or the hollers of ... thought was the back ofthe bus.” And so it was—unless the bus was so crowded that a white person wanted to sit there Then the back ofthe bus would not begin until three rows from the back What...
... strands ofthe literature ofthe banks’ interestrate risk (See Staikouras (2003) and Staikouras (2006) for a survey) The first one is about the determinants ofthe banks’ exposure to interestrate ... instance, the duration, andthe weighted sum ofthe positions’ duration is a measure ofthe bank’s exposure to interestrate risk (See, for instance, Sierra and Yeager (2004)) The main problem ofthese ... case especially the shape ofthe (past and current) term structure ofinterest rates We call this variable the change in the systematic factor ofthe exposure to interestrate risk The variables...
... of a reasonable significance level Despite variations ofthe responses across the conditional distribution of both the MPC interestrate decisions andthe member interestrate average, theseinterest ... strength ofthe relationship between the MPC’s own forecasts andtheinterestrate decisions ofthe MPC on the official Bank RateThe data used are the historical forecasts for British CPI inflation and ... website They refer to the decision ofthe MPC about the level ofthe key interest rate, the Official Bank Rate, from 1997Q3 to 2009Q4.2 Though available on a monthly basis, I select the values of March,...
... downward bias in the variability ofthe real rate depending on the level ofthe nominal equilibrium rateofinterestThe downward bias in the variability ofthe real rate accounts for the reduced ... above, the distortion of output and inflation distributions is driven by a distortion ofthe real interestrateThe left-hand panels of Figure report the upward bias in the mean real rateandthe ... throughout these simulations except if the nominal interestrate is constrained at zero Figure shows the frequency of zero nominal interest rates as a function ofthe level ofthe equilibrium rate...
... models In these models changes in the nominal interestrate influence the real interestrate due to the presence of price rigidities; the real interestrate determines the level of output; andthe gap ... elasticity of money demand (in line with Andres et al (2006) and Ireland (2004)) Interestrate elasticity of money demand (in line with Andres et al (2006) and Ireland (2004)) Weighting parameter of ... achieve theinterestrate prescribed by the optimal policy Technically, mt is determined by equation (16) conditional on the desired interestrateandthe current values of real income andthe price...
... andthe questioning ofthe long-term viability ofthe Eurozone as the prospect of a breakup ofthe euro is increasingly viewed as possible.” While the potential fiscal and political causes ofthe ... most ofthe members of Euroland probably find that theinterestrate decisions ofthe ECB are consistent with their national economic conditions most ofthe time, this may no longer be the case ... Finland, France, the Netherlands, the Czech Republic, andthe UK are explored in more detail It should be noted that due to the concerns about the accuracy ofthe HP filter towards the end of...
... Risk and Term Structure ofInterest Rates • The risk structure ofinterest rates looks at bonds with the same term to maturity and different interest rates • The term structure ofinterest rates ... n The n-period interestrate equals the average ofthe one-period interest rates expected to occur over the n-period life ofthe bond Expectations Theory • Explains why the term structure ofinterest ... equal an average ofthe short-term interest rates that people expect to occur over the life ofthe long-term bond • Buyers of bonds not prefer bonds of one maturity over another; they will not hold...
... and χ2(4)= 18.58 [0.00] respectively) However, neither ofthese two hypothesis can be rejected when the rest ofthe cointegrating vectors are left unrestricted, implying that the hypotheses of ... proxy for the annual interest rate, we therefore need to multiply the quarterly interestrate by four Hence, if we had used an annual interest rate, the coefficient for theinterestrate difference ... namely that of UIP According to the UIP condition, theinterestrate differential will be an optimal predictor oftherateof depreciation, providing the conditions of rational expectations and risk...
... The “efficiency hypothesis” states that the merged bank might reach economies of scale and other efficiency gains and transfer these to the customers in the form of more beneficial interest rates ... These authors extend the time horizon ofthe analysis to six years after the merger, and their results imply that in the long run, merging banks offer higher deposit rates than their rivals The ... ratei , j ,t is the difference between the deposit rate (checking account rate or MMDA rate) andthe fed funds rateThe time distance to the merger is measured by a set of five dummies (for the...
... endorsement ofthe divine and hereditary right of English kings to rule, his promotion of accumulated wealth in the hands ofthe few, and above all his disdain for common people and for the idea of government ... about the text, theorists insist that the warp and woof of constitutional law is still traceable to the written document and must be, given that the document and only the document counts as the ... Court Activism, the Public Interest, andthe Making of Constitutional Law l a r ry yac k l e the university of chicago press chicago and london larry yackle is professor of law andthe Basil Yanakakis...
... measure the impact ofthese cash rate changes, by examining the average abnormal andthe cumulative abnormal returns ofthe common stock prices of non-financial stocks using an index of their daily ... on the nature oftheinterestrate sensitivity Stone's work was built on and further enhanced by Lynge and Zumwalt (1980) who found that interestrate sensitivity varied depending on the term of ... examined them to ascertain the direction of changes in these rates Table lists the event dates used for our study The Australian market underwent a total of 27 downward rate changes and 13 upward rate...
... growth andinterest rates Cook and Hahn (1989) test for evidence ofthe Fed’s influence on rates by examining the reaction ofinterest rates to Fed target changes They estimate the reaction of rates ... for the expectations theory ofthe term structure (see references in Cook and Hahn (1989)) The standard test ofthe expectations theory in these papers is to regress the change in the 3-month rate ... description ofthe key features ofthe Fed’s interest -rate targeting procedure based on data assembled in Cook and Hahn (1989) and on the views of financial market participants and Fed officials These...
... (2005), Heinemann and Schüller (2002), Sander and Kleimeier (2004)) We then test the stability ofthe baseline linear ECM before and after the introduction ofthe euro and assess whether more general ... affect the results The coefficient ofthe short-term interestrate reported in the tables is similar to the one obtained when the long terms interestrate is instrumented with the residual of its ... against interestrate risk (by varying the proportion of fixed -rate versus variable -rate loans, using interestrate swaps) Investigating these strategies is beyond the scope of this paper 10...
... decrease the ffects ofthe tax rate increase on the quantity of labour supplied and he quantity of leisure demanded Estimates ofthe marginal cost of public funds: In Australia and other OECD ... prevails q is the probability ofthe high price prevailing (1-q) is the probability ofthe low price prevailing r is therateofinterestThe expected value of information is: The expected project ... return of $50r* The present value of this return (at the market rateof interest) is $50(r*/r) = $50*1.5 = $75 The cost to the economy of raising $100 of public funds by borrowing from the public...
... University of Wellington under the auspices ofthe Victoria University of Wellington Foundation He is gratefully acknowledges this support andthe hospitality ofthese institutions and their staffs ... between the US and New Zealand data concerns the source of industry output In the United States, these data come from the income side In New Zealand, they are based on production The theory under ... included the change in the world GDP gap, the change in world interest rates, andthe change in the Australia-US exchange rateThese variables should affect demand in New Zealand, but are exogenous...