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...
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| Altri autori: | , |
| Natura: | Periodico |
| Lingua: | English |
| Pubblicazione: |
Washington, D.C. :
International Monetary Fund,
2000.
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| Serie: | IMF Working Papers; Working Paper ;
No. 2000/163 |
| Accesso online: | Full text available on IMF |