Banks' Reserve Management, Transaction Costs, and the Timing of Federal Reserve Intervention /

We use daily data on bank reserves and overnight interest rates to document a striking pattern in the high-frequency behavior of the U.S. market for federal funds: depository institutions tend to hold more reserves during the last few days of each 'reserve maintenance period,' when the opp...

Täydet tiedot

Bibliografiset tiedot
Päätekijä: Bertola, Giuseppe
Muut tekijät: Bartolini, Leonardo, Prati, Alessandro
Aineistotyyppi: Aikakauslehti
Kieli:English
Julkaistu: Washington, D.C. : International Monetary Fund, 2000.
Sarja:IMF Working Papers; Working Paper ; No. 2000/163
Linkit:Full text available on IMF