Hidden Bibliographic Details
| Other authors / contributors: | Bertola, Giuseppe.
Prati, Alessandro, 1961-
International Monetary Fund. Research Department.
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| ISBN: | 1282541277
9781282541276
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| Notes: | Includes bibliographical references (pages 27-28).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | Annotation 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 patterns of the federal funds rates volatility and on its response to changes in target rates and in intervention procedures, such as those implemented by the Federal Reserve in 1994. Theoretical results are consistent with empirical patterns of interest rate volatility in the U.S. market for federal funds.
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| Other form: | Print version: Bartolini, Leonardo. Day-to-day monetary policy and the volatility of the federal funds interest rate. [Washington, D.C.] : International Monetary Fund, Research Dept., ©2000
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