English, Article edition: Anticipation and Surprises in Central Bank Interest Rate Policy Daniel Hardy

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Physical Description
  • article
Language
  • English

Edition details

Title
  • Anticipation and Surprises in Central Bank Interest Rate Policy
Author
  • Daniel Hardy
Physical Description
  • article
Notes
  • RePEc:pal:imfstp:v:45:y:1998:i:4:p:4
  • Market reaction to a change in official interest rates will depend on the exent to which the change is anticipated, and on how it is interpreted as a signal of future policy. In this paper, a technique is developed to separate the anticipated and unanticipated components of such changes, and applied to estimate the response of euro-deutsche mark interest rates to adjustments in the Bundesbank's Lombard and discount rates. Copyright 1998, International Monetary Fund
  • RePEc:imf:imfstp:v:45:y:1998:i:4:p:4
Language
  • English
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