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- W4246101133 abstract "The author provides evidence on the perceived existence of strong liquidity effect. The analysis is based on the response of the term structure of interest rates to the weekly Federal Reserve announcements of bank reserves during the post-October 1979 period. It is shown that unanticipated changes in the mix between borrowed and nonborrowed reserves cause expected real interest rates to change after the announcement because they provide information about a future change in the supply of money. A precise model is developed and tested during subperiods of nonborrowed and borrowed reserves targeting by the Fed." @default.
- W4246101133 created "2022-05-12" @default.
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- W4246101133 date "1987-06-01" @default.
- W4246101133 modified "2023-09-26" @default.
- W4246101133 title "Reserves Announcements and Interest Rates: Does Monetary Policy Matter?" @default.
- W4246101133 doi "https://doi.org/10.2307/2328259" @default.
- W4246101133 hasPublicationYear "1987" @default.
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