Credit Spread Changes and Monetary Polic
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XIAONENG ZHU*
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Article
📅
2012
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John Wiley and Sons
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English
⚖ 658 KB
This study analyzes the impact of monetary policy actions on credit spreads of various rating categories and maturities, using federal funds futures to distinguish between anticipated and unanticipated changes in the federal funds rate. Two proxies for monetary policy shocks are the surprise change