Monetary policy and heterogeneous expectations
β Scribed by William A. Branch; George W. Evans
- Publisher
- Springer
- Year
- 2010
- Tongue
- English
- Weight
- 753 KB
- Volume
- 47
- Category
- Article
- ISSN
- 0938-2259
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## Abstract Federal funds and eurodollar futures contracts are among the most useful instruments for deriving expectations of the future path of monetary policy. However, reading policy expectations from those instruments is complicated by the presence of risk premia. This paper demonstrates how to
We thank Dennis Ho!man, Vance Roley, Juoko Vilmunen, seminar participants at the University of Washington, session participants at the 1998 annual meetings of the AEA and the Fourth International Conference of the Society for Computational Economics, and anonymous referees for comments and suggestio