The credibility of the Wall Street Journal in reporting the timing and details of monetary policy events
AbstractThis paper answers questions raised about our use of the Wall Street Journal in an earlier paper in which we estimated the effect of changes in the federal funds rate target -- the Federal Reserve's policy instrument -- on market interest rates in the 1970s. In that paper we found that changes in the funds rate target caused large movements in short-term interest rates and smaller but significant movements in longer-term rates.
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Bibliographic InfoPaper provided by Federal Reserve Bank of Richmond in its series Working Paper with number 89-05.
Date of creation: 1989
Date of revision:
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- Rudebusch, Glenn D., 1995.
"Federal Reserve interest rate targeting, rational expectations, and the term structure,"
Journal of Monetary Economics,
Elsevier, vol. 35(2), pages 245-274, April.
- Glenn D. Rudebusch, 1995. "Federal Reserve interest rate targeting, rational expectations, and the term structure," Working Papers in Applied Economic Theory 95-02, Federal Reserve Bank of San Francisco.
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