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Monetary policy shocks and long-term interest rates

Author

Listed:
  • Wendy Edelberg
  • David A. Marshall
Abstract
Exogenous shocks to monetary policy strongly affect short-term interest rates, but have little or no effect on longer-term interest rates.

Suggested Citation

  • Wendy Edelberg & David A. Marshall, 1996. "Monetary policy shocks and long-term interest rates," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 20(Mar), pages 2-17.
    • Handle: RePEc:fip:fedhep:y:1996:i:mar:p:2-17:n:v.20no.2
    as

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    File URL: http://www.chicagofed.org/digital_assets/publications/economic_perspectives/1996/epmar96a.pdf
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    References listed on IDEAS

    as
    1. Meinster, David R. & Elyasiani, Elyas, 1988. "The performance of foreign owned, minority owned, and holding company owned banks in the U.S," Journal of Banking & Finance, Elsevier, vol. 12(2), pages 293-313, June.
    2. Amemiya, Takeshi, 1973. "Regression Analysis when the Dependent Variable is Truncated Normal," Econometrica, Econometric Society, vol. 41(6), pages 997-1016, November.
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    4. Bates, Timothy M & Bradford, William D, 1980. "An Analysis of the Portfolio Behavior of Black-Owned Commercial Banks," Journal of Finance, American Finance Association, vol. 35(3), pages 753-768, June.
    5. Cebenoyan, A Sinan & Cooperman, Elizabeth S & Register, Charles A, 1993. "Firm Efficiency and the Regulatory Closure of S&Ls: An Empirical Investigation," The Review of Economics and Statistics, MIT Press, vol. 75(3), pages 540-545, August.
    6. Jondrow, James & Knox Lovell, C. A. & Materov, Ivan S. & Schmidt, Peter, 1982. "On the estimation of technical inefficiency in the stochastic frontier production function model," Journal of Econometrics, Elsevier, vol. 19(2-3), pages 233-238, August.
    7. Kwast, Myron L. & Black, Harold, 1983. "An analysis of the behavior of mature black-owned commercial banks," Journal of Economics and Business, Elsevier, vol. 35(1), pages 41-54.
    8. Douglas A. Price, 1990. "Minority-owned banks: history and trends," Economic Commentary, Federal Reserve Bank of Cleveland, issue Jul.
    9. Brimmer, Andrew F, 1971. "The Black Banks: An Assessment of Performance and Prospects," Journal of Finance, American Finance Association, vol. 26(2), pages 379-405, May.
    10. Aigner, Dennis & Lovell, C. A. Knox & Schmidt, Peter, 1977. "Formulation and estimation of stochastic frontier production function models," Journal of Econometrics, Elsevier, vol. 6(1), pages 21-37, July.
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