Day-To-Day Monetary Policy and the Volatility of the Federal Funds Interest Rate /
We propose a model of the interbank money market with an explicit role for central bank intervention and periodic reserve requirements, and study the interaction of profit-maximizing banks with a central bank targeting interest rates at high frequency. The model yields predictions on biweekly patter...
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| Kolejni autorzy: | , |
| Format: | Czasopismo |
| Język: | English |
| Wydane: |
Washington, D.C. :
International Monetary Fund,
2000.
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| Seria: | IMF Working Papers; Working Paper ;
No. 2000/206 |
| Hasła przedmiotowe: | |
| Dostęp online: | Full text available on IMF |