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Effects of explicit FOMC policy rate guidance on interest rate expectations

✍ Scribed by Moessner, Richhild


Book ID
121215668
Publisher
Elsevier Science
Year
2013
Tongue
English
Weight
451 KB
Volume
121
Category
Article
ISSN
0165-1765

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## Abstract This article demonstrates how options on federal funds futures, which began trading in March 2003, can be used to recover the implied probability density function (PDF) for future Federal Open Market Committee (FOMC) interest‐rate outcomes. The discrete nature of the choices made by the