Add to ORKGThe founding of the Federal Reserve System in 1914 led to a substantial change in the behavior of nominal interest rates. We examine the timing of this change and the speed with which it was effected. We then use data on the term structure of interest rates to determine how expectations responded. Our results indicate that the change in policy regime was rapid and that individuals quickly understood the new environment they were facing.
This paper examines the response of the term structure of interest rates to weekly money announcemen...
This paper presents econometric evidence on whether the founding of the Federal Reserve in 1914 caus...
This study investigates whether the apparent intertemporal instability of a particular reduced-form ...
We reexamine the expectations theory of the term structure using data at the short end of the maturi...
One of the most influential contributions to the literature on the expectations theory of the term s...
One of the most influential tests of the expectations hypothesis is Mankiw and Miron (1986), who fou...
This article revisits the key issue raised by researchers who have empirically investigated the beha...
Interest rates have reacted strongly to the monthly employment report in recent years. The authors d...
Using U.S. interest rate data covering the period 1950:1-1992:7, this paper tests the rational expec...
The founding of the Federal Reserve System in the US in 1914 is viewed as a major structural transfo...
Monetary policy - United States ; Interest rates ; Federal Open Market Committee
This article examines the impact of what is undoubtedly the most important monetary regime change in...
Monetary policy - United States ; Rational expectations (Economic theory) ; Interest rates
In this paper we use Mishkin’s efficient markets framework [Journal of Finance 37 (1982) 63–72] to s...
This paper evaluates the role of the destruction of the gold standard and the founding of the Federa...
This paper examines the response of the term structure of interest rates to weekly money announcemen...
This paper presents econometric evidence on whether the founding of the Federal Reserve in 1914 caus...
This study investigates whether the apparent intertemporal instability of a particular reduced-form ...
We reexamine the expectations theory of the term structure using data at the short end of the maturi...
One of the most influential contributions to the literature on the expectations theory of the term s...
One of the most influential tests of the expectations hypothesis is Mankiw and Miron (1986), who fou...
This article revisits the key issue raised by researchers who have empirically investigated the beha...
Interest rates have reacted strongly to the monthly employment report in recent years. The authors d...
Using U.S. interest rate data covering the period 1950:1-1992:7, this paper tests the rational expec...
The founding of the Federal Reserve System in the US in 1914 is viewed as a major structural transfo...
Monetary policy - United States ; Interest rates ; Federal Open Market Committee
This article examines the impact of what is undoubtedly the most important monetary regime change in...
Monetary policy - United States ; Rational expectations (Economic theory) ; Interest rates
In this paper we use Mishkin’s efficient markets framework [Journal of Finance 37 (1982) 63–72] to s...
This paper evaluates the role of the destruction of the gold standard and the founding of the Federa...
This paper examines the response of the term structure of interest rates to weekly money announcemen...
This paper presents econometric evidence on whether the founding of the Federal Reserve in 1914 caus...
This study investigates whether the apparent intertemporal instability of a particular reduced-form ...